Swedish November inflation data are published on Thursday. We expect a slighttightening of the deviation from the Riksbank’s latest CPIF forecast from 0.4pp to 0.3pp. Nonetheless, risks are to the downside, implying a possibility of an even larger negativedeviation from the Riksbank’s forecast. There is no way overstating the importance of thisnumber for the monetary policy decision on 17 December. We still believe that lowinflation will trigger a rate cut despite strong survey data out of Sweden.
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Danske Bank