08:44 · 26 April 2023

Riksbank raises rates as expected! The SEK is losing!

The main rate in Sweden is now 3.5%. This level was expected and the previous wasot of 3.0%. 

This is important news from the ECB's perspective, as a 25bp hike and a 50bp hike are being considered at this point, although the consensus is directed more towards a smaller hike. 

Riskbank comments:

  • Rates will be raised by 25 bp in June or (and) September
  • The Riksbank would now prefer a stronger SEK to combat inflation
  • However, SEK level is not a determinant in decisions
  • Inflation seen at 5.9% this year versus 5.5% previously
  • Two members were against today's decision (wanted 0.25 and an indication of the likelihood of another hike rather than certainty) - weak for the SEK
  • Riksbank sees lots of uncertainty, sees risk of higher inflation
  • SEK weakens after today's decision

Swedish and EMU rates. Source: xStation5

A lot of weakness for the Swedish krona, which may be related to the Riksbank not presenting a very tough stance, even with higher inflation expectations this year. Source: xStation5

18 September 2026, 08:21

Hawkish remarks by BOJ Governor strengthen the yen – key takeaways

18 September 2026, 07:23

🏯Chart of the Day: Yen in a Trap. BoJ Hike That Weakened the Currency (18.09.2026)

18 September 2026, 06:46

Macro Calendar – Dovish BoJ Pivot and Key Data from Europe and the US

17 September 2026, 19:17

Daily Summary: Hawkish Fed fails to scare the markets (17.09.2026)

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.