Swedish Riksbank

Swedish Riksbank

November 26, 2020

The Swedish Riksbank’s repo rate has been at 0% or negative since February 2015. It’s last change, a 25-basis point hike to zero percent, was done in December 2019. A statement after the just-completed latest policy review by the central bank’s Executive Board expands the size of the asset purchase program from SEK 500 billion […] More

Dollar Up Marginally, Stock Markets Mixed, and Americans Observe Thanksgiving Day

November 26, 2020

The U.S. Thanksgiving holiday is depriving financial markets of some degree of leadership. The dollar overnight drifted up 0.1-0.2% against the euro, loonie, yen, kiwi, Swiss franc and Australian dollar. The U.S. currency rose a bit more against the peso (0.4%) and sterling (0.3%). Stock markets in Asia closed up 1.4% in Indonesia, 1.0% in […] More

Rising Covid Cases, Growth Outlook Concerns, Supreme Court Nomination Fight, and U.S.-China Tensions

September 22, 2020

The pace of new Covid-19 cases has risen in many countries. A U.S. increase above 40k in the past 24 hours is well above a safe level heading into the flu season. Fed Chairman Powell said America has a long way to go in its economic recovery from spring lockdowns and that a full comeback […] More

Swedish Riksbank

July 1, 2020

The Swedish Riksbank repo rate was left unchanged at zero percent. It’s been at that level since a 25-basis point hike last December. In mid-March, however, officials at an unscheduled emergency meeting agree to purchase SEK 300 billion of assets during 2020 and to increase loans to banks. Today, those programs were loosened.¬† The asset […] More

Stock Markets Open Third Quarter on a Downbeat Despite Higher Factory PMI Readings

July 1, 2020

Share prices fell 0.8% in Japan and show daily losses so far of about 1.5% in Germany, France, Italy and Spain. The British Ftse is 1.1% weaker, and U.S. futures point to a drop at the open. Euroland’s June purchasing managers index printed at a 4-month high of 47.4, which is half a point above […] More

Dollar and Oil Price Down but Stock Markets Mostly Up

April 28, 2020

The dollar fell broadly overnight, with the biggest declines coming against the Mexican peso (1.5%), Norwegian krone (1.4%), and Swedish krona (1.2%). (The Swedish Riksbank released a dovish statement, but the Executive Board did not cut the zero percent repo rate as some had been expecting). The dollar also dropped by 0.6% relative to the […] More

Equity Markets Rise and Dollar Narrowly Mixed

February 12, 2020

Fed Chairman Powell will reprise yesterday’s upbeat Humphrey Hawkins testimony today before the Senate Banking Committee. He characterized the U.S. economy as “in a very good place” and said policy would react to the coronavirus impact only if such proves “persistent and material.” Recent remarks by other Fed officials such as Harker, Daly, and Bullard […] More

Swedish Riksbank Ends Negative Policy Rate Stance

December 19, 2019

The Executive Board of the Swedish Riksbank raised the repo rate to zero¬† percent from -0.25%. Sweden’s central bank had been the first to experiment with a negative policy interest rate. Last January, such had been raised 25 basis points to -0.25%. A released statement from policymakers said policy remains expansionary. The repo rate is […] More

Thursday Rundown of Overnight News, Data Reports, and Central Bank Decisions

December 19, 2019

President Trump has been impeached by a House of Representatives partisan vote of 229-197. He will get a trial in the senate. Market movements today are mostly unremarkable. Sovereign debt yields are up. Equities are down a bit in Europe but started on an up note in the United States. New Zealand’s stock market rallied […] More

Swedish Repo Rate Kept at -0.25% But Statement More Guarded

September 5, 2019

The Swedish Riksbank kept its repo rate unchanged at minus 0.25% as had been expected. Although forward guidance in the released statement from the Executive Board of the central bank still implies a second rate increase within the next couple of months, official confidence in that path has declined. “However, market rates have fallen substantially […] More

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