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Swedish Krona SEK
Central Bank: Sveriges Riksbank
Interest Rate: 0%
Public Debt to GDP Ratio, 2020: 41.9%
Trade Balance, 2019: $18.9 bln.
Inflation, 2019: 1.8%
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.
The Swedish krona rallied against many of its major currency counterparts on Tuesday after the central bank left interest rates unchanged and maintained stimulus measures to reverse its worst economic slump since the Second World War. But policymakers assured markets that they would act if the financial crisis intensifies and additional monetary easing is needed to mitigate a severe downturn.
The Swedish krona fell a little against the strong currencies like the US dollar and the Great Britain pound but jumped versus the vulnerable euro today. Yesterday, the currency rallied thanks to the much-anticipated interest rate hike from Sweden’s central bank.
The Swedish krona rallied against its major rivals today. That included the Great Britain pound, but the sterling has managed to rebound by now thanks to the positive Brexit headlines. The main reason for the krona’s rally was better-than-expected inflation data.
The Swedish krona dropped today after the release of an extremely disappointing retail sales report.
The Swedish krona was extremely vulnerable today after the unemployment rate jumped to the highest level in four years and the central bank signaled that it will likely delay the planned interest rate hikes.
The Swedish krona rallied today after Sweden’s central bank left its benchmark repo rate unchanged but continued to anticipate a rate hike in the future.
The Swedish krona gained today after the nation’s central bank decided to keep interest rates unchanged and signaled about possibility of a hike in the future.
The Swedish krona rose today after falling for four days in a row. Decent domestic macroeconomic data helped the currency.
The Swedish krona tanked against other currencies today after Sweden’s central bank signaled that the planned interest rate hike will happen later than it was previously expected.
The Swedish krona fell against the US dollar a bit today ahead of this week’s monetary policy meeting of Sweden’s central bank.
