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 SEK
Detailed information and fundamental factors
Central Bank: Sveriges Riksbank
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
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.
Swedish Krona Falls as Riksbank Doesn’t Plan Raising Interest Rates
October 26, 2017 at 8:27 Swedish Krona
The Swedish krona fell today as the nation’s central bank showed no signs of planning to raise interest rates in the near future. That is despite strong economic growth that pushed inflation close to the bank’s target of 2%.
Swedish Krona Stable After Drop on Riksbank Statement
July 4, 2017 at 22:02 Swedish Krona
The Swedish krona was stable during the early Wednesday’s session after falling during the Tuesday’s session. The drop was caused by somewhat dovish policy statement from Sweden’s central bank.
Swedish Krona Climbs as Analysts Don’t Expect Additional Stimulus
December 21, 2016 at 21:07 Swedish Krona
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 Sinks as Riksbank Signals About Possible Easing
October 27, 2016 at 19:41 Swedish Krona
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.
Riksbank Cuts Rates, Krona Mixed at Start of Friday’s Trading
February 12, 2016 at 1:18 Swedish Krona
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.
Swedish Krona Dips After Riksbank Announcement, Bounces Later
October 28, 2015 at 14:59 Swedish Krona
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.
Swedish Krona Bounces After Thursday’ s Drop
July 3, 2015 at 13:24 Swedish Krona
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.