OctaFX | OctaFX Forex Broker
Open trading account

Sweden: Riksbank sitting on the ground – TDS

The Riksbank kepts its policy rate on hold at 0.00%, as had been unanimously expected. There was no change in the repo rate forecasts, and little market reaction to what was a very uneventful meeting, strategist’s at TD Securities Jacqui Douglas reports. USD/SEK is losing 0.11% this morning.

Key quotes

“The Riksbank maintains its view that the policy rate will remain unchanged at 0.00% up until the tail-end of its forecast horizon.”

“The macro forecasts saw GDP growth revised up a tenth for 2020 (to 1.3%) and 2021 (to 1.8%), while CPIF was revised 0.4ppts lower for 2020 on lower energy prices (to 1.3%) but unchanged for 2021 at 1.7%.”

“The Riksbank is comfortably on hold for the foreseeable future. While we believe that the macro data justifies a rate cut, the Riksbank will be loathed to push rates back into negative territory short of an outright recession at the very least.”


Copper Futures: Still scope for further gains

Traders added nearly 1K contracts to their open interest positions on Tuesday, reversing at the same time two consecutive daily pullbacks, in light of
Read more Previous

USD/JPY still seen rangebound in the near-term – UOB

USD/JPY is expected to trade within a consolidative fashion in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “USD tr
Read more Next
Start livechat