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Swedish Krona Plunges After Inflation Slows Unexpectedly

February 19, 2019 at 14:33 by Vladimir Vyun

Swedish coins and banknotesThe Swedish krona tanked today after nation’s inflation slowed unexpectedly last month, threatening the central bank’s plans to raise interest rates.

Sweden’s annual consumer inflation slowed to 1.9% in January from 2.0% in the previous month. That was contrary to analysts’ forecasts, which promised an increase to 2.2%.

Previously, the krona was supported by prospects for an interest rate hike in the second half of this year. But such prospects diminished after the weak inflation print.

USD/SEK jumped from 9.2539 to 9.3613 as of 14:20 GMT today, touching the high of 9.4169 intraday — the highest level since December 2016.

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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