Analysts at TD Securities suggest that in today’s Riksbank meeting, they and the broad consensus are looking for them to keep the repo rate unchanged at -0.25%.
“We expect relatively little change in tone from the Riksbank, reiterating commitment to hike rates in the second half of this year, and to proceed at a cautious pace. However, the risks are skewed slightly to the downside, should the Riksbank take on a more pessimistic view of global growth and recent Swedish consumption data. This could push the forecasted rate hike from September to December. The Foreign Exchange Intervention mandate expired on Tuesday, and is likely to be renewed, though this should have no material impact on markets or indeed the broader policy stance.”
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