Sweden's Riksbank Opens Door to May Cut With Rate Kept at 4% [BNN Bloomberg (Canada)]
SVENSKA HANDELSBK UNS/ADR (SVNLY)
NASDAQ:AMEX Investor Relations:
danskebank.com/investor-relations
Company Research
Source: BNN Bloomberg
While policymakers led by Governor Erik Thedeen kept their benchmark interest rate at 4% as expected, they strengthened signals on a cut within the next quarter and projected a pathway to three possible reductions this year. The krona weakened after the decision. “The Executive Board wants further confirmation that inflation will stabilize close to the target,” the Riksbank said in a statement published Wednesday. “If the inflation prospects remain favorable, the policy rate may well be cut in May or June.” The guidance suggests officials are sufficiently encouraged by recent consumer-price data to smell victory in a two-year battle against inflation that inflicted drastically higher borrowing costs on an economy now suffering the consequences. Unless other peers suddenly pivot before then, a reduction announced on May 8 could make Sweden only the second among the world's 10 most-traded currency jurisdictions, after Switzerland, to begin dialing down constriction. Investor be
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