Riksbank expected to be on hold
The Riksbank’s monetary policy report and repo rate decision on July 3 is of course the main focus for Swedish markets this week. Real data, inflation, SEK and credit/house price developments all suggest the Riksbank should be on hold and keep the repo rate path unchanged. Uncertainty is related to the two new members, statements from whom may be interpreted as slightly dovish. That said, we are not convinced they will argue the same way in this new capacity.
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Danske Bank