Ahead of tomorrow's CPI release from.........>

SWEDEN: Ahead of tomorrow's CPI release from Sweden (0830GMT) analysts at Danske

note January inflation is driven by sales in several price categories such as

clothing, furniture and electronics but also strong gains in energy due to a

combo of commodity price gains and tax/grid fee increases. Although both Norway

and Denmark surprised on the downside, Danske find it hard to identify a strong

case for similar effects on Sweden. Their January forecasts for CPIF and CPIF

excluding energy are spot on the Riksbank's.

-Nordea see CPIF inflation at 1.8% in January, down from 1.9% in December, just

below the Riksbank's view. Their call for January inflation is 0.1% point lower

than the Riksbank's forecast for headline CPIF but in line with the bank's view

with energy excluded.

-TD Securities look for CPIF to come in below the Riksbank's Feb MPR forecast of

1.9% y/y, suggesting further downgrades to 2018 inflation forecasts at the April

MPR, which should justify pushing rate hikes back to Q4 2018.