BREAKING: SEK drops after Riksbank holds rates unchanged

Riksbank announced its latest monetary policy decision today at 9:30 am GMT. Expectations ahead of the meeting were split between 25 basis point rate hike and no move on rates. Swedish central bank decided to keep rates unchanged with main interest rate staying at 4.00%. SEK dropped in response with EURSEK jumping to a daily high above 11.43. However, a part of this move has been erased already.

Riksbank said that forecasts for policy rate is that a hike may come at the start of 2024 and that policy will need to be restrictive for a relatively long period of time.

Source: xStation5

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