A glance at the SEK exchange rate really does provide reason for optimism, as EUR-SEK has been stable in the area of 9.30-9.40 for weeks without any further expansionary measures on the part of Riksbank. A temporary move…
A glance at the SEK exchange rate really does provide reason for optimism, as EUR-SEK has been stable in the area of 9.30-9.40 for weeks without any further expansionary measures on the part of Riksbank.
A temporary move below the 9.20 mark was successfully stopped by the verbal interventions on the part of the Swedish central bank against the strong krona. The May inflation data due for publication today will show that. Just to remind the readers: in April the rate of inflation had surprisingly slipped back into negative territory.
"Should the data disappoint again this might quickly cause speculation that Riksbank will extend its QE programme after all or would lower its key rate to create further SEK weakness and thus another inflation impulse. Should Riksbank remain hesitant though there is a risk that the market will test its determination after all", suspects Commerzbank.
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