Riksbank
Swedish Monetary Policy Eased but Officials Expect No Changes Next Year
December 18, 2012
A 25-basis point cut in the Riksbank repo rate to 1.0% announced this morning was accompanied by rate guidance that 1.0% is likely to be both the average and endyear rate level in 2013. Risks around that level are balanced. Today’s action had been anticipated and followed earlier 25-basis point cuts in December 2011 and […] More
Swedish Riksbank Repo Rate Cut to 1.25% from 1.50%
September 6, 2012
In a somewhat surprising move, the Executive Board of central bank in Sweden cut its main interest rate for the third time in five meetings. The first cut since July 2009 was announced in December 2011 and followed by an easing at the subsequent meeting in February. The policy modification was driven by a new […] More
Mixed European Data… U.S. Market Closed
July 4, 2012
There will be no U.S. market trading today because of the Independence Day holiday. Retail sales in the euro area rose 0.6% in May following April’s 1.4% decline. Sales volume in April-May together was 1.0% below the first-quarter average. Sales in May, although stronger than assumed, were down 1.7% from a year earlier. Euroland’s composite […] More
Euro Back Above $1.3000
January 3, 2012
The dollar is softer across the board amid cautiously better risk appetite. Of particular note, the euro firmed another 0.9% overnight, hitting a high of $1.3058 versus last Thursday’s 2011 low of $1.2856. The greenback also fell overnight by 1.2% against the Australian and New Zealand dollars, 1.0% relative to the loonie, 0.8% versus the […] More
Euroland Leaders Found Some Common Ground… Risk Assets Higher
October 27, 2011
Stocks rallied in relief. In Europe, the German Dax and Paris Cac are 4.0% and 4.2% higher. German Chancellor Merkel and French President Sarkozy will be speaking later today. The British Ftse has so far climbed 2.4%. In the Pacific Rim, equities advanced by 3.3% in Hong Kong, 2.8% in Singapore, 2.5% in Australia, 2.3% […] More
Fresh Concerns Weaken Stocks and Lift Dollar Slightly
July 5, 2011
Moody’s is warning that Chinese banks may hold more problematic loans than generally realized. Service sector purchasing manager survey results show loss of momentum. Euroland suffers biggest month-to-month drop of index since February 2009. Euro are retail sales sank 1.1% in May, largest drop of 2011 so far. Reserve Bank of Australia keeps policy unchanged […] More
Swedish Repo Rate Raised 25 Basis Points to 1.75% in Expected Move
April 20, 2011
Before today’s action, the Executive Board implemented four 25-bp rate hikes in the second half of 2010 and a fifth increase from 1.25% to 1.5% in mid-February. The Riksbank is among very few central banks that publishes a non-binding expected path for its benchmark interest rate, and this remains unchanged from what officials were expecting […] More
Stocks, Euro and Commodity Prices Score Solid Gains
April 20, 2011
Financial markets reacted positively to a slew of corporate earnings reports that surpassed expectations. Equities rose 1.8% in Japan, 1.9% in India, 2.2% in South Korea, 2.0% in Taiwan, 1.6% in Hong Kong, 1.7% in Indonesia, 1.4% in Pakistan, 1.1% in Thailand and 1.0% in New Zealand. This strong rise intensified in Europe, with the […] More
End of February Data Releases
February 28, 2011
Monday’s tend to have fewer data releases than other days of the week but not when they coincide with the end of the month. Oil prices are steady and below $100 at $97.89 per barrel amid confidence that Gaddafi will be squeezed out of power. The dollar has lost 0.6% against the euro and 0.7% […] More
Swedish Rate Hike
February 15, 2011
The Riksbank Executive Board has implemented a fifth repo rate increase of 25 basis points following similar increments last July 1, September 2, October 25 and December 15. The rate level becomes 1.5%, compared to a cyclical low of 0.25%. A statement released by the central bank cites the same four reasons for today’s move […] More
