Swedish Riksbank

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

Problems Deepen in Europe But Appetite for Riskier Assets Returns

September 5, 2019

German industrial orders slumped 2.7% in July, almost twice as steeply as forecast. This wiped out June’s recovery and left orders 5.6% below their year earlier level. Demand weakness was broadly based across industrial sectors but more concentrated exports than domestic demand. The construction purchasing managers index in Euroland sank 1.5 points in August, sliding […] More

Unorthodox Appointments, Service Sector PMIs, and an Early Market Close in the United States

July 3, 2019

The dollar recorded scant net change Wednesday aside from 0.6% declines against the Australian and New Zealand dollars. Share prices fell 1.1% in China and 0.5% in Japan but were buoyed  in Europe and the United States by some unexpected key appointments that investors are perceiving as a harbinger of more forceful easy money policies. […] More

Stronger Dollar, Weaker Stocks, and Four Central Bank Meetings

April 25, 2019

The dollar advanced overnight by 0.4% against the yuan and peso, 0.3% relative to the euro, 0.2% versus the Swiss franc, sterling and Australian dollar, and 0.1% vis-a-vis the loonie. One currency against which the dollar fell was the yen, which climbed 0.3%. Share prices dived 2.4% in China to a 3-week low on continuing […] More

Swedish Riksbank

February 13, 2019

Swedish Riksbank has not had a positive repo rate since a 25 basis point cut to zero percent in October 2014. That had been followed by additional reductions of 10 basis points in February 2015 and July 2015 and of 15 bps each in March 2015 and February 2016. But at this past December’s review, […] More

Policies Driving Currency Markets as More Evidence Emerges of Slower Global Growth

February 13, 2019

Industrial Production in the euro area fell 0.9% in December, more than double the expected slide after a 1.7% drop recorded in November. This resulted in a 4.2% 12-month rate of decline, the biggest on-year contraction since November of 20o9. December output among the common currency bloc’s five largest economies fell from end-2017 levels by […] More

First Swedish Monetary Policy Rate Hike since 2011

December 20, 2018

The Swedish Riksbank Executive Board raised its repo rate from -0.50% to -0.25%, marking the first rate hike since July 2011 and the first change since a 15-basis point cut in February 2016. The rate has been zero percent or lower since October 2014. A statement from the Board doesn’t anticipate another rate hike until […] More

Softer Dollar on the First Day After the Fed’s Rate Hike

December 20, 2018

Markets did not take comfort from Wednesday’s FOMC interest rate hike or the upbeat economic prognosis of Chairman Powell. The dollar fell overnight by 0.6% against the euro, 0.5% relative to the yen and  Swiss franc, 0.4% vis-a-vis sterling, 0.3% versus the Australian dollar, and 0.2% against the yuan and loonie. Share prices fared poorly […] More

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