Home Riksbank keeps rates on hold, next hike toward year end or early 2020
FXStreet News

Riksbank keeps rates on hold, next hike toward year end or early 2020

The Swedish central bank, the Riksbank, announced its monetary policy decision on Thursday, keeping the benchmark interest rate unchanged at -0.25% versus -0.25% expected.

Key Headlines:

Riksbank sees next hike toward year end or early 2020.

Recent outcomes suggest that inflationary pressures are slightly weaker than expected.

Assesses that rate will remain at this level for a somewhat longer period of time than was forecast in February.

Repo rate is expected to be raised again towards end of year or at beginning of next year -rate rises thereafter are expected to occur at a somewhat slower pace.

Inflation close to target but slightly weaker inflation prospects.

However, outcomes in recent months suggest that inflationary pressures are slightly weaker than expected.

Overall, inflation is now expected to be somewhat lower over next few years compared with previous forecast.

The EUR/SEK pair extended its recent bullish momentum and rallied hard to hit fresh seven-week highs at 10.6503, as the Swedish Krona slipped on the status-quo and bearish view on the inflationary pressures.

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.