It's not too late to protect your business against Sweden’s rising interest rates
The increase in interest rates in Sweden over the past year has been significant, and the upward trend is likely to continue in the near term. There is a way to protect your business against rising interest costs. Nordea's corporate loan with an interest rate cap offers the benefits of a floating-rate loan and the protection of a fixed interest rate ceiling.
How much will the pressure on the Norwegian economy affect wage growth and inflation going forward? That is one of the key questions Norges Bank needs to consider when setting interest rates. If labour shortages do not improve significantly ahead of this year’s pay talks, wage growth, and thus the interest rate peak, could exceed Norges Bank’s expectations.
Weaker purchasing power will dampen consumer spending in Norway, and unemployment may rise from a very low level. But we think the Norwegian economy will fare better than many other countries, one reason being sharply higher activity in the petroleum sector.
Lower prices and stagnating turnover are dominating the Danish housing market. The decline is especially caused by rapidly rising interest rates, and it is expected to continue until 2024. However, the starting point is strong, and that is why the situation after the financial crisis will not likely be repeated.
The outlook for the Swedish economy is worrying. After many years of debt build-up, the resultant vulnerability is now being tested and will contribute to a decline in the economy in 2023.
Swedish pay talks in the new inflation environment
Half of all wage earners will get new wage deals in early 2023. The unions’ wage claim is 4.4%, while employers’ bid is 2.0% and a one-off amount of SEK 3,000.
SWIFT code has now changed name to Business Identifier Code, BIC for short. It’s used to identify the bank among all the other banks in the world, and this helps banks transfer money and communicate with one another through secure messages.
The Finnish economy is headed towards a mild recession this winter, but for the full year we forecast zero growth. Consumer purchasing power is constrained at the moment, but easing inflation and rising salaries will boost private consumption towards the end of the year.
Making sure late payments don’t squeeze your cash flow
For several years the economic climate has been favourable, demand for goods and services has been high and financing costs have been low. But now things have changed and many companies could face increased pressure on their cash flow. Read here what your company can do.
The Paris Agreement for Nature – COP15 and the outcomes
A welcomed achievement of the meeting in Montreal was the adoption of the Global Biodiversity Framework and the associated targets, goals and financing. What is now important is the rapid and consistent progress in implementing what has been agreed.
When did we last experience a normal year? In this podcast, Johan Trocmé and Viktor Sonebäck review the Nordea On Your Mind topics covered this year and warn that 2023 may not be peaceful and quiet either. But we should not despair; it often takes a crisis to bring positive structural change.
Social impact is back in focus. Here’s how to translate it into financing
When it comes to financing structures focused on social impact, the vast majority currently incorporate gender diversity targets as the social KPI, in part due to the availability of established and comparable data. Looking ahead, we expect a wider range of social targets to be reported on and included in sustainable financing where material.