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USD/SEK Rises Despite Prospects of Higher Interest Rates in Sweden

February 14, 2019 at 13:29 by Vladimir Vyun

Swedish coins and banknotesThe Swedish krona behaved today similarly to yesterday, gaining on the US dollar intraday but falling afterwards. Yesterday, Sweden’s central bank left interest rates unchanged but signaled about prospects of a hike in the second half of this year.

The Riksbank held the repo rate unchanged at -0.25%, saying that the economic situation has not changed “to any great extent.” As for recent economic developments, the central bank stated:

Economic developments in Sweden and abroad have entered a phase of lower growth. Although growth is more subdued, economic activity is still strong.

The bank maintained the outlook for at least one hike this year:

As in December, the forecast for the repo rate indicates that the next increase will be during the second half of 2019, provided that the economic outlook and inflation prospects are as expected.

USD/SEK gained from 9.2646 to 9.2966 as of 13:17 GMT today after falling to the daily low of 9.2388 earlier.

If you have any questions, comments, or opinions regarding the Swedish Krona, feel free to post them using the commentary form below.

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