Tag Archives: Riksbank
Scandi markets ahead: Swedish CPI and new NGB auction in 10-year segment
The Riksbank has put a lot of focus on inflation. Swedish core inflation is running at0.0%, which is well below the Riksbank’s forecast and way below the 2.0% inflationtarget.
SEK FI & FX Strategy – Riksbank conclusions
In line with the consensus, the bank decided to leave the repo unchanged at 0.75%. The rate path, however, was revised lower and the near-term easing bias increased to
Sweden: Riksbank – dovish without cutting
The Riksbank left the repo rate unchanged at 0.75%. The board was not unanimous in its decision. Both Governor Ekholm and Flodén voted for a rate cut to 0.50 %.
FX Daily
Another quiet day on the global agenda. FOMC minutes tonight might beinteresting given the upward adjustment to the Fed rate projections at the Marchmeeting.
Scandi markets ahead: PMI week and divergent monetary policy between Norway and Sweden even more evident
Will the Riksbank cut rates in April or not? It cannot be excluded, but we believe thechance of a rate cut in July is higher. What could prove decisive is next week’sMarch PMI figures.
A new dove at the Riksbank and CNY under pressure
This morning the Riksbank published Minutes from the February Monetary Policy Meeting. Despite the decision to keep rates was unanimous (we already knew that) we think the Minutes had a clear dovish twist.
Sweden: Soft Riksbank minutes
With the repo rate and rate path unchanged, the February policy meeting was largely a non-event. The minutes from the meeting that were published today were actually more of an event.
Low Swedish inflation increases rate cut pressure
Swedish inflation data released this morning was lower than expected. CPI declined 1.2% m/m and 0.2% y/y in January, which is 0.3 percentage points below the Riksbanks forecast both on m/m and y/y numbers.
Little news from the Riksbank and Norges Bank
Norges Bank governor Olsen’s annual address last night did not contain any near-term policy signals. However, it included the following statement: ‘Given the prevailing long-term interest rates abroad,
Risk of soft Riksbank and annual address by Governor Olsen in Norway
Today attention turns to Scandinavia with the Riksbank meeting as the main event. Our view is that rates and the rate path will be kept more or less unchanged.
Sweden: Riksbank with no drama
Fully in line with expectation, the Riksbank left the repo rate unchanged at 0.75%. The repo rate path was left unchanged too, which means that they intend to stay on hold until Q1 2015 when the first rate hike is pencilled in.
The Global Macro Pulse
In FX, AUDUSD was the main mover, dropping about 1% to 0.894 in response to weaker-than-expected employment data. EURUSD recouped some of its overnight losses to rise to 1.3615 while USDJPY fell