SEK is outperforming on better than expected CPI data. There are signs that inflation is beginning to emerge from its trough as headline Feb CPI surprises to the upside at 0.7% m/m (cons: 0.6%) with core CPI jumping to 0…
SEK is outperforming on better than expected CPI data.
There are signs that inflation is beginning to emerge from its trough as headline Feb CPI surprises to the upside at 0.7% m/m (cons: 0.6%) with core CPI jumping to 0.9% y/y (from 0.6% y/y in Jan).
RBC Capital Markets notes as follows on Wednesday:
This is positive news for the Riksbank and will reduce the threat of further easing. Less comfortable will be the continued appreciation in SEK (up ~5.5% versus the EUR) since the Riksbank QE in February
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