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2023-10-18 Kvartalsrapport 2023-Q3
2023-07-19 Kvartalsrapport 2023-Q2
2023-04-26 Kvartalsrapport 2023-Q1
2023-03-22 Årsstämma 2023
2023-02-08 Bokslutskommuniké 2022
2022-10-19 Kvartalsrapport 2022-Q3
2022-07-15 Kvartalsrapport 2022-Q2
2022-04-27 Kvartalsrapport 2022-Q1
2022-03-24 Ordinarie utdelning SHB B 5.00 SEK
2022-03-24 Ordinarie utdelning SHB A 5.00 SEK
2022-03-23 Årsstämma 2022
2022-02-09 Bokslutskommuniké 2021
2021-10-21 Extra Bolagsstämma 2021
2021-10-19 Kvartalsrapport 2021-Q3
2021-07-16 Kvartalsrapport 2021-Q2
2021-04-21 Kvartalsrapport 2021-Q1
2021-03-25 Ordinarie utdelning SHB A 4.10 SEK
2021-03-25 Ordinarie utdelning SHB B 4.10 SEK
2021-03-24 Årsstämma 2021
2021-02-03 Bokslutskommuniké 2020
2020-10-21 Kvartalsrapport 2020-Q3
2020-07-15 Kvartalsrapport 2020-Q2
2020-04-22 Kvartalsrapport 2020-Q1
2020-03-26 Ordinarie utdelning SHB B 0.00 SEK
2020-03-26 Ordinarie utdelning SHB A 0.00 SEK
2020-03-25 Årsstämma 2020
2020-02-05 Bokslutskommuniké 2019
2019-10-23 Kvartalsrapport 2019-Q3
2019-07-17 Kvartalsrapport 2019-Q2
2019-04-17 Kvartalsrapport 2019-Q1
2019-03-28 Ordinarie utdelning SHB B 5.50 SEK
2019-03-28 Ordinarie utdelning SHB A 5.50 SEK
2019-03-27 Årsstämma 2019
2019-02-06 Bokslutskommuniké 2018
2018-10-24 Kvartalsrapport 2018-Q3
2018-07-18 Kvartalsrapport 2018-Q2
2018-04-25 Kvartalsrapport 2018-Q1
2018-03-22 Ordinarie utdelning SHB A 5.50 SEK
2018-03-22 Bonusutdelning SHB B 2
2018-03-22 Ordinarie utdelning SHB B 5.50 SEK
2018-03-22 Bonusutdelning SHB A 2
2018-03-21 Årsstämma 2018
2018-02-07 Bokslutskommuniké 2017
2017-10-18 Kvartalsrapport 2017-Q3
2017-07-18 Kvartalsrapport 2017-Q2
2017-04-26 Kvartalsrapport 2017-Q1
2017-03-30 Ordinarie utdelning SHB B 5.00 SEK
2017-03-30 Ordinarie utdelning SHB A 5.00 SEK
2017-03-29 Årsstämma 2017
2017-02-08 Bokslutskommuniké 2016
2016-10-19 Kvartalsrapport 2016-Q3
2016-07-15 Kvartalsrapport 2016-Q2
2016-04-20 Kvartalsrapport 2016-Q1
2016-03-17 Bonusutdelning SHB B 1.5
2016-03-17 Ordinarie utdelning SHB B 4.50 SEK
2016-03-17 Bonusutdelning SHB A 1.5
2016-03-17 Ordinarie utdelning SHB A 4.50 SEK
2016-03-16 Årsstämma 2016
2016-02-09 Bokslutskommuniké 2015
2015-10-21 Kvartalsrapport 2015-Q3
2015-07-21 Kvartalsrapport 2015-Q2
2015-05-19 Split SHB B 1:3
2015-05-19 Split SHB A 1:3
2015-04-29 Kvartalsrapport 2015-Q1
2015-03-26 Bonusutdelning SHB B 5
2015-03-26 Ordinarie utdelning SHB B 12.50 SEK
2015-03-26 Bonusutdelning SHB A 5
2015-03-26 Ordinarie utdelning SHB A 12.50 SEK
2015-03-25 Årsstämma 2015
2015-02-04 Bokslutskommuniké 2014
2014-10-24 Analytiker möte 2014
2014-10-22 Kvartalsrapport 2014-Q3
2014-07-17 Kvartalsrapport 2014-Q2
2014-04-30 Kvartalsrapport 2014-Q1
2014-03-27 Bonusutdelning SHB A 5
2014-03-27 Ordinarie utdelning SHB A 11.50 SEK
2014-03-27 Ordinarie utdelning SHB B 11.50 SEK
2014-03-27 Bonusutdelning SHB B 5
2014-03-26 Årsstämma 2014
2014-02-05 Bokslutskommuniké 2013
2013-10-23 Kvartalsrapport 2013-Q3
2013-07-17 Kvartalsrapport 2013-Q2
2013-07-17 Analytiker möte 2013
2013-04-24 Kvartalsrapport 2013-Q1
2013-03-21 Ordinarie utdelning SHB B 10.75 SEK
2013-03-21 Ordinarie utdelning SHB A 10.75 SEK
2013-03-20 Årsstämma 2013
2013-02-06 Bokslutskommuniké 2012
2012-10-22 Kvartalsrapport 2012-Q3
2012-10-22 Analytiker möte 2012
2012-07-17 Kvartalsrapport 2012-Q2
2012-04-26 Kvartalsrapport 2012-Q1
2012-03-29 Ordinarie utdelning SHB B 9.75 SEK
2012-03-29 Ordinarie utdelning SHB A 9.75 SEK
2012-03-28 Årsstämma 2012
2012-02-15 Bokslutskommuniké 2011
2011-10-26 Kvartalsrapport 2011-Q3
2011-07-20 Kvartalsrapport 2011-Q2
2011-04-27 Kvartalsrapport 2011-Q1
2011-03-24 Ordinarie utdelning SHB A 9.00 SEK
2011-03-24 Ordinarie utdelning SHB B 9.00 SEK
2011-03-23 Årsstämma 2011
2011-03-15 Kapitalmarknadsdag 2011
2011-02-09 Bokslutskommuniké 2010
2010-10-20 Kvartalsrapport 2010-Q3
2010-07-20 Kvartalsrapport 2010-Q2
2010-04-30 Ordinarie utdelning SHB A 8.00 SEK
2010-04-30 Ordinarie utdelning SHB B 8.00 SEK
2010-04-29 Årsstämma 2010
2010-04-28 Kvartalsrapport 2010-Q1
2010-02-18 Bokslutskommuniké 2009
2009-10-28 Kvartalsrapport 2009-Q3
2009-07-21 Kvartalsrapport 2009-Q2
2009-04-30 Ordinarie utdelning SHB A 7.00 SEK
2009-04-30 Ordinarie utdelning SHB B 7.00 SEK
2009-04-29 Årsstämma 1
2009-04-28 Kvartalsrapport 2009-Q1
2008-04-24 Bonusutdelning SHB B 5
2008-04-24 Ordinarie utdelning SHB B 8.50 SEK
2008-04-24 Bonusutdelning SHB A 5
2008-04-24 Ordinarie utdelning SHB A 8.50 SEK
2007-04-25 Ordinarie utdelning SHB A 8.00 SEK
2007-04-25 Ordinarie utdelning SHB B 8.00 SEK
2006-04-26 Ordinarie utdelning SHB A 7.00 SEK
2006-04-26 Ordinarie utdelning SHB B 7.00 SEK
2005-04-27 Ordinarie utdelning SHB A 6.00 SEK
2005-04-27 Ordinarie utdelning SHB B 6.00 SEK
2004-04-28 Ordinarie utdelning SHB B 5.25 SEK
2004-04-28 Ordinarie utdelning SHB A 5.25 SEK
2003-04-30 Ordinarie utdelning SHB B 4.75 SEK
2003-04-30 Ordinarie utdelning SHB A 4.75 SEK
2002-04-24 Ordinarie utdelning SHB A 4.50 SEK
2002-04-24 Ordinarie utdelning SHB B 4.50 SEK
2001-04-25 Ordinarie utdelning SHB A 4.00 SEK
2001-04-25 Ordinarie utdelning SHB B 4.00 SEK
2000-04-17 Ordinarie utdelning SHB B 3.00 SEK
2000-04-17 Ordinarie utdelning SHB A 3.00 SEK
1999-06-09 Split SHB A 1:3
1999-06-09 Split SHB B 1:3
1999-04-28 Ordinarie utdelning SHB B 8.00 SEK
1999-04-28 Ordinarie utdelning SHB A 8.00 SEK
1998-04-29 Ordinarie utdelning SHB A 6.50 SEK
1998-04-29 Ordinarie utdelning SHB B 6.50 SEK
1997-04-23 Ordinarie utdelning SHB A 5.00 SEK
1997-04-23 Ordinarie utdelning SHB B 5.00 SEK
1996-04-24 Ordinarie utdelning SHB A 3.75 SEK
1996-04-24 Ordinarie utdelning SHB B 3.75 SEK
1995-04-27 Ordinarie utdelning SHB B 3.00 SEK
1995-04-27 Ordinarie utdelning SHB A 3.00 SEK
1987-08-26 Split SHB A 1:2

Beskrivning

LandSverige
ListaLarge Cap Stockholm
SektorFinans
IndustriStorbank
Handelsbanken bedriver bankverksamhet. Inom banken erbjuds bland annat finansiering av olika slag som bolån, företagsfinansiering, finansiering via kapitalmarknaden samt riskhantering. Kunderna, både privat- och företagskunder, återfinns inom bankens hemmamarknader runtom Norden och Europa. Handelsbanken grundades ursprungligen 1871 och har sitt huvudkontor i Stockholm.
2023-01-25 06:00:00

Count on tightening the purse strings even further in 2023. The falling krona is pushing inflation to record highs and eroding Swedish purchasing power.
"High inflation this year will represent a loss of around SEK 35,000 in purchasing power for the average household", says Handelsbanken's Chief Economist, Christina Nyman.
According to Handelsbanken's macroeconomic forecasts, the Riksbank will continue raising the policy rate, and Swedish purchasing power will start to rise again in 2024 at the earliest when inflation starts to slow down.
"Unfortunately, there is no pain-free solution, and in the short term, the purchasing power of many households will be eroded even more by higher interest rates", says Christina Nyman.

Swedish krona undervalued
The weak krona has contributed to a higher level of inflation in Sweden than in many other countries. The result will be a clear deterioration in households' purchasing power in 2023, although export companies will benefit from a weaker krona. According to the Handelsbanken's macroeconomists, the krona is undervalued and should appreciate in the future when economic uncertainty subsides and interest rates return to more normal levels.
"There is no point in the government and the Riksbank trying to talk up the krona. Improving the SEK rate will require a long-term focus on growth and stability", says Christina Nyman.

Inflation to peak, but the target remains distant - higher interest rates for an extended period
Inflation has started to taper off, but the road to reaching the Riksbank's target of 2 percent will be a long one. Despite extensive rate hikes in 2022, it will take until 2024 before the Riksbank has completely extinguished the inflationary fire. 
"We do not expect interest rates to return to the low levels we have seen in the past 15 years. As far as Sweden is concerned, we expect the policy rate to hover around 2-2.5 percent a few years from now", says Christina Nyman.

Global slowdown putting pressure on companies and households
A global downturn is now taking shape, as the tightening monetary policy begins to affect both households and companies. Despite this, the economy has thus far proven to be resilient, with growth and labour markets stronger than normal. For lower inflation to take hold, central banks will need to keep their policy rates higher than normal right up to 2025, according to our macroeconomic forecasts, and we do not expect a recovery to materialise until 2025.
"A global recession is forcing the profit expectations of listed companies downwards and setting the scene for a difficult spring in the financial markets", says Christina Nyman.

No increase in Swedish purchasing power until next year at the earliest
A high level of indebtedness and short interest-fixing periods will increase the vulnerability of Swedish households to the effects of rising interest rates. Also, inflation in Sweden is higher than in many other countries, and so far, wage increases have been relatively low. There will therefore be a clear reduction in household consumption and housing construction this year. However, the economic downturn should be tempered by a labour market that remains relatively robust. 
"The purchasing power of households will improve throughout 2024 and 2025 as inflation slows down, fiscal policy becomes more expansionary and the Riksbank gradually lowers the policy rate", says Christina Nyman.

Interest rates putting pressure on building calculations and falling property prices
Rising funding costs have been putting pressure on the prices of both residential and commercial properties. House prices have fallen by around 14 percent so far, compared with the peaks noted just under a year ago, while the decline for commercial property prices has so far been significantly lower.
"Our forecast is that prices will fall by around 20 percent for residential properties and by 15 percent for commercial properties, compared to the peak levels noted last year", says Christina Nyman.
Increases in construction costs, rising funding costs and falling real estate values will put pressure on the property sector. The pace of construction will also become more subdued to reflect slow population growth in the future.
"However, the slowdown in construction could be exacerbated if there is a substantial tightening of financial conditions", says Christina Nyman.

Cooling labour market
Many companies say they are still experiencing difficulties attracting new labour. However, as the economy slows, labour shortages are expected to become less pronounced. 
"We expect unemployment to rise this year, even though many companies will try to retain their staff", says Christina Nyman.

This year's round of wage negotiations will take place in a particularly challenging environment, characterised by a strong labour market and high inflation.
"We expect to see a one-year wage agreement with an increase of around 3.5 percent. We do not believe that such a level would be in conflict with the inflation target, but we are concerned at the prospect of a short-term agreement, as this would mean that there would still be uncertainty surrounding future wage formation", says Christina Nyman.

High energy prices are here to stay
The green transition will drive inflation in many countries over the coming decade and contribute to a slight tightening of monetary policy.
"We expect high energy prices to become a part of everyday life, and climate-related investments and growth in the demand for green minerals could push inflation up even further. However, there are several factors that could subdue these inflationary impulses, and in the longer term, it is possible that the use of fossil-free energy could actually reduce the price pressure slightly, as the new technology becomes available on a larger scale", says Christina Nyman.

For further information, please contact:
Christina Nyman, Chief Economist, +46 70 778 77 65
Joel Holm, Press Officer, +46 73 058 30 21

For the full report in Swedish, see Global konjunkturprognos (https://www.handelsbanken.se/sv/foretag/placera/konjunkturprognos) and in English, Global Macro Forecast (https://www.handelsbanken.se/en/corporate/investments/global-macro-forecast)
For more information about Handelsbanken, visitwww.handelsbanken.com

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