The Swedish krona climbed against the US dollar and the euro after the Sweden’s central bank policy meeting even though the bank kept interest rates negative and extended the asset purchase program by six months.
Swedish Krona SEK
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
The Swedish krona fell today after the nation’s central bank signaled that it is ready to cut interest rates deeper into the negative territory and expand its quantitative easing program.
The Swedish krona sank yesterday following the bigger-than-expected interest rate cut from the central bank of Sweden. Today, the currency continued to move lower versus the US dollar but rose a bit against the euro.
Sweden’s central bank decided at today’s meeting to leave its interest rates unchanged but to expand the size of the asset purchase program. The Swedish krona dipped initially after the announcement but bounced as of now.
The Swedish krona bounced today following yesterday’s drop by 1 percent. The decline followed the surprise decision of the nation’s central bank to cut its repo rate even deeper into negative territory.
The Swedish krona dropped against the US dollar today after the nation’s central bank joined some other central banks of Europe (including the European Central Bank and the Swiss National Bank) in implementing negative interest rates. The krona attempted to stay flat against the euro but fell as well recently.
The Swedish krona dropped today after Sweden’s central bank decided to reduce its main repo rate to the absolute minimum in an effort to spur inflation that was below the bank’s target for a long time.
The Swedish krona dropped today as data revealed that deflation worsened last month in Sweden, increasing probability of monetary easing from the nation’s central bank.
The Swedish krona rose today despite speculations about possibility on quantitative easing from the nation’s central bank. The positive market sentiment was likely responsible for gains of the currency.
The Swedish krona crashed today as the nation’s central bank cut its repo rate more than analysts have expected and promised to keep it low till the end of the next year. The bank also cut its growth and inflation estimates.