Sweden’s Central Bank, Riksbank on Thursday lifted its key policy rate to 3.75% from 3.50%. The move followed the ECB’s 50bps move last meeting and was expected. Borrowing costs in Sweden are now at the highest level since December 2008. The Swedish krona hit a new record low versus the euro immediately after the announcement. While inflation in Sweden has decelerated in recent months it is well above the central bank’s target of 2 percent. The central bank kept its … Continue reading “Sweden’s Riksbank Raise Rates by 25 bps, Krona Falls to New Record Low Against Euro”
Sweden’s Riksbank Raise Rates by 50 bps, However Dovish Tilt Weakens Krona
Sweden’s Central Bank, Riksbank on Wednesday lifted its key policy rate to 3.50% from 3.00%. The move followed the ECB’s 50bps move last month and was expected. Borrowing costs in Sweden are now at the highest level since December 2008, in an attempt to bring down inflation. The annual inflation rate in Sweden surged to 12.3% in December 2022, the highest since February 1991, well above the central bank’s target of 2 percent. The move was not unanimous First Deputy … Continue reading “Sweden’s Riksbank Raise Rates by 50 bps, However Dovish Tilt Weakens Krona”
Sweden’s Riksbank Raise Rates by 50 bps, Moves to Strengthen Krona
Sweden’s Central Bank, Riksbank on Thursday hiked its benchmark rate by 50bps to 3.0 percent during its February meeting. The move followed the ECB’s 50bps move last week and was expected. Borrowing costs in Sweden are now at the highest level since December 2008, in an attempt to bring down inflation. The annual inflation rate in Sweden surged to 12.3% in December 2022, the highest since February 1991, well above the central bank’s target of 2 percent. Looking ahead, the … Continue reading “Sweden’s Riksbank Raise Rates by 50 bps, Moves to Strengthen Krona”
Sweden’s Riksbank Raise Rates by 75 bps to the Highest Level Since December 2008
Sweden’s Central Bank, Riksbank on Thursday hiked its benchmark rate by 75bps to 2.5 percent during its November meeting. The move followed the unprecedented 100 bps to 1.75 percent in September of 2022. Borrowing costs in Sweden are now at the highest level since December 2008, in an attempt to bring down inflation. CPIF inflation was 9.3 percent in October, well above the central bank’s target of 2 percent. Looking ahead, the policy rate is expected to be raised further … Continue reading “Sweden’s Riksbank Raise Rates by 75 bps to the Highest Level Since December 2008”
Sweden’s Riksbank Raise Rates by Unprecedented 100 bps
Sweden’s Central Bank, Riksbank on Tuesday hiked its benchmark rate by an unprecedented 100 bps to 1.75 percent in September of 2022. The bank was expected to raise the repo rate by 75 bps to 1.50% with upside risk to that magnitude. The 100 basis-point hike made Sweden only the second in the Group of 10 jurisdictions with the world’s most-traded currencies to make such a move this year, after the Bank of Canada in July. Riksbank was the first … Continue reading “Sweden’s Riksbank Raise Rates by Unprecedented 100 bps”