Risks of further easing from Riksbank in the short-term remain high: Barclays
The Riksbank decided to ease policy further intra-meeting, by cutting its repo rate to -0.25% and announcing an increase in its sovereign bond purchase programme (SEK30bn with maturities up to 25 years).Barclays quotes i…
The Riksbank decided to ease policy further intra-meeting, by cutting its repo rate to -0.25% and announcing an increase in its sovereign bond purchase programme (SEK30bn with maturities up to 25 years).
Barclays quotes in a report as follows ...
In line with our expectations, the emphasis of the Riksbank has shifted radically towards the strength of its currency and the implied downside risks to inflation. As a result, risks of further easing in the short-term remain high, in our view.
We recommend staying long USD/SEK targeting 9.0150, given the risks for further easing in the short term and our expectations for Fed policy normalisation.
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