Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Sweden’s Riksbank keeps rate unchanged at -0.35%

Published 12/15/2015, 03:41 AM
Updated 12/15/2015, 03:41 AM
Sweden’s Riksbank keeps policy steady

Sweden’s Riksbank keeps policy steady

Investing.com - Sveriges Riksbank, Sweden's central bank, kept its benchmark interest rate unchanged in negative territory on Tuesday and made no changes to the size of its stimulus program, as policymakers maintain efforts to ward off deflation from taking hold in the largest Nordic economy.

The Riksbank said it was holding the benchmark repo rate at -0.35%, as widely expected. In addition, the bank left its bond buying target at SEK200 billion by the end of June 2016.

In a statement, the central bank said, "The Executive Board remains highly prepared to make monetary policy even more expansionary, even between the ordinary monetary policy meetings. The repo rate can be cut further, which is reflected in the repo rate path, and the Riksbank can purchase more securities."

"The Riksbank is also ready to intervene on the foreign exchange market if the upturn in inflation should be threatened as the result of a problematic market development," it added.

Following the announcement, the Krona added to losses against the U.S. dollar, with USD/SEK shedding 0.8% to trade at 8.4123, compared to 8.4657 ahead of the decision.

The Krona was also down against the euro, with EUR/SEK falling 0.44% to 9.2832 from around 9.3391 earlier.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.