Global Macro Forecast - Meagre shelter for the global economy

Fast Comment Finland — Strong labour market improvement is behind us – stabilisation ahead

1. Unemployment rate (SA) remained at 6.6 percent in May
2. Employment rate edged up to 72.6 percent
3. We expect the unemployment rate to bottom out in 2019-20

Fast Comment Norway — Preview: Labour market figures and retail spending

1. Unemployment trending lower on the back of still-solid employment growth
2. Retail sales probably declined in May...
3. ...but owing to a solid gain in April, the trend is still positive

Fast Comment Norway — Dagens morgenrapport

1. S&P til nye høyder, understøttet av forventet rentekutt i USA; noe dempet av spenningen mellom USA og Iran
2. Norges Bank leverte som vi bestilte i går; kortenden opp og langenden ned, igjen
3. Markert kronestyrking på beskjeden fra Norges Bank

Economic Calendar — June 21-28, 2019

Fast Comment Norway — Norges Bank hikes the policy rate and pulls the next hike forward

1. Policy rate hiked to 1.25% in June, Norges Bank sees next hike by December
2. Domestic factors pulled up short-term, while global risks pulled down longer-term
3. Norges Bank’s sees 1-2 more hikes, we believe the June hike was the last

UK Comment — UK consumer price inflation eases in May

1. CPI down to 2.0% and core CPI down to 1.7%
2. Cost pressures also ease in May
3. Inflation trend should not affect BoE’s decision – policy to be kept unchanged tomorrow