Sweden’s consumer inflation missed market expectations, but that did not prevent the Swedish krona from gaining on the US dollar. The possible reason for that was the fact that US underline inflation also failed to meet expectations.
Swedish Krona SEK
Detailed information and fundamental factors
Central Bank: Sveriges Riksbank
Interest Rate: -0.25%
Public Debt to GDP Ratio, 2017: 39%
Trade Balance, 2017: $14.9 bln.
Inflation, 2017: 1.6%
Factors of Weakness
Dependence on the eurozone
Negative interest rates
weak
The Swedish krona is the currency used in Sweden. It was introduced in 1873 when the Scandinavian Monetary Union was formed. The Union was dissolved after the World War I has started in 1914. Sweden, Denmark and Norway decided to retain their currencies, though they were no longer pegged to gold. Sweden introduced a managed float regime in 1992. The country planned to join the eurozone, but a referendum showed that the majority of Swedes were against the introduction of the euro.
Swedish Krona News Archive
Krona Gains as Sweden’s Economic Growth Beats Expectations
February 28, 2019 at 21:47 Swedish Krona
The Swedish krona gained today after data showed that the nation’s economy expanded last quarter two times the forecast amount.
Swedish Krona Plunges After Inflation Slows Unexpectedly
February 19, 2019 at 14:33 Swedish Krona
The Swedish krona tanked today after nation’s inflation slowed unexpectedly last month, threatening the central bank’s plans to raise interest rates.
USD/SEK Rises Despite Prospects of Higher Interest Rates in Sweden
February 14, 2019 at 13:29 Swedish Krona
The 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.
Swedish Krona Climbs After Riksbank Raises Interest Rates
December 20, 2018 at 17:54 Swedish Krona
The Swedish krona jumped today after the nation’s central bank decided to reduce monetary easing, raising its benchmark repo rate.
Swedish Krona Drops After Riksbank Pushes Back Rate Hike Date
September 6, 2018 at 18:57 Swedish Krona
The Swedish krona dropped today after Sweden’s central bank kept its benchmark repo rate unchanged and pushed back the planned rate hike to a later date.
Krona Rallies As Swedish GDP Beats Expectations
July 30, 2018 at 9:23 Swedish Krona
The Swedish krona rose sharply today after Sweden’s economic growth surprised the market, beating expectations.
Krona Drops as Sweden’s Central Bank Postpones Rate Hike
April 26, 2018 at 10:26 Swedish Krona
The Swedish krona fell today, touching the lowest level since June against the US dollar, as the nation’s central bank postponed the planned date of an interest rate hike from the third quarter of this year to the fourth quarter.
Swedish Krona Gains as Inflation Remains Stable
March 14, 2018 at 11:34 Swedish Krona
The Swedish krona rose today after the report that showed inflation remained stable in Sweden last month.
Krona Gains as Riksbank Signals About Gradual Reduction of Stimulus
December 20, 2017 at 11:28 Swedish Krona
The Swedish krona rose today after the nation’s central bank kept its monetary policy unchanged but signaled that it is going to start gradually reduce stimulus in the future.