Sweden’s central bank has announced a further -0.1% cut to its repo rate to -0.35%, arguing that there are risks to its efforts to inject more inflation into Sweden’s economy. The Riksbank cited uncertainty abroad, including around Greece, alongside ongoing currency appreciation as key threats. The bank was targeting a return to 2% CPIF inflation […]
Lauri Hälikkä, Fixed Income strategist at SEB, expects further monetary expansion in Sweden following Mario Draghi’s speech yesterday. Draghi noted yesterday that household demand has been strong (note retail sales 2.2% y/y in April), and loss in momentum is mostly due economies outside EU. With governing council being slightly cautious on economic outlook, the QE […]
Norges Bank surprisingly refrained from cutting its deposit rates lower from 1.25%, following the unscheduled 15 basis cut from the Riksbank yesterday. “There are prospects for a reduction in the key policy rate” said Norges Bank governor Olsen (pictured), especially to sustain Norwegian economy from low oil prices. EUR/NOK plunged to 8.6474 post-decision, pulling out […]
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