The Riksbank kept its policy rate on hold, but expanded its QE program and cut the lending rate for banks. According to economists at Danske Bank, this decision supports the krona in the short-term and, therefore, they maintain its three-month forecast for the EUR/SEK pair at 10.50. Key quotes “Yesterday, the Riksbank delivered a somewhat dovish surprise announcing that its QE program is expanded to SEK500 billion (up from SEK 300billion).” “Expansion was in the cards, but the consensus call was for the Riksbank to sit out the summer before acting. All else equal, this caps SEK downside near-term: we would not be surprised to see EUR/SEK test the 10.55-60 area in the coming days, if still contingent on global risk sentiment.” “As this is no real game-changer for the SEK, our medium-term SEK outlook remains neutral to slightly negative and we still target 10.50 in three months.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY clings to modest gains around mid-107.00s, lacks follow-through FX Street 3 years The Riksbank kept its policy rate on hold, but expanded its QE program and cut the lending rate for banks. According to economists at Danske Bank, this decision supports the krona in the short-term and, therefore, they maintain its three-month forecast for the EUR/SEK pair at 10.50. Key quotes “Yesterday, the Riksbank delivered a somewhat dovish surprise announcing that its QE program is expanded to SEK500 billion (up from SEK 300billion).” “Expansion was in the cards, but the consensus call was for the Riksbank to sit out the summer before acting. All else equal, this caps SEK downside near-term: we… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
