Riksbank raises rates and signals further tightening
Swedish central bank accelerates government bond sales and is looking to hedge currency risk
Sveriges Riksbank’s executive board voted unanimously to increase the policy rate by 25 basis points to 3.75% today (June 29).
The Swedish central bank’s board signalled that it intended to increase rates “at least one more time this year”, and accelerated its quantitative tightening process. The Riksbank also announced it was looking at ways to hedge the risk of its foreign currency-denominated assets, as it anticipates the krona falling further.
We think the Riksbank is in a tight spot
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