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Further easing by the Riksbank remains on the cards – Danske Bank

FXStreet (Edinburgh) - Sverre Holbek, Senior Analyst at Danske Bank, sees the likeliness of the Nordic central bank to cut rates further in the next months.

Key Quotes

EUR/SEK has moved significantly higher as yesterday’s worse-than-expected labour market report seems to have triggered second-thought thinking among market participants as to the likelihood of further Riksbank easing”.

“While it remains our base case that we will have to wait until December for additional Riksbank action, we do see a risk of further monetary stimulus already this month”.

“Indeed the SEK seems likely to remain an ‘unofficial’ target for the Riksbank in keeping a floor under import prices and as long as SEK appreciation is driven - directly and indirectly (Fed, ECB monetary policy) - by global growth worries we could see a very responsive Riksbank”.

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