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Commenting on today’s inflation report, which showed that the annual Consumer Price Index stayed unchanged at 1.6% in October, Deputy Governor of the Riksbank, Martin Floden, said inflation reading was in line with their forecasts.  

“Impossible to say that the November inflation figure will be decisive, it is always a question of weighing in a range of factors,” Floden explained regarding the impact of inflation on the bank’s rate decision. “There are not any upside risks for inflation at all.”

Floden further added that he had nothing against inflation rising above the 2% target. These comments seem to be weighing on the SEK. As of writing, the EUR/SEK pair was trading at its highest level since November 1st at 10.7365, adding 0.35% on a daily basis.