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TD Securities analysts point out that the Riksbank released minutes from its most recent policy meeting and details on the reinvestment program were light.

Key Quotes

“Elsewhere Governor Ingves noted that the central bank needed to do a re-think on their analysis of the exchange rate (in particular, what factors were driving it so weak lately). He also noted that were euro area inflation to disappoint, this could have spillovers to Sweden and affect monetary policy there.”

“IP data for March was also released and it disappointed sharply to the downside, as headline IP fell 2.3% m/m and manufacturing fell 3.6% m/m, its worst monthly performance since mid-2016.”