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- EUR/SEK to dip into the 10.30-10.35 range on hawkish step by the Riksbank – ING
EUR/SEK to dip into the 10.30-10.35 range on hawkish step by the Riksbank – ING
The Riksbank’s policy announcement today should be interesting. The central bank may bring forward their projected hike to 2023 and signal faster reinvestments, helping the Swedish krona, according to economists at ING.
Another gradual hawkish step by the Riksbank
“We suspect policymakers in Sweden will keep their shift to a hawkish stance quite gradual, and any change to the projected rate path should see a first hike only in 2023.”
“Signals of a 2023 hike should be enough to consolidate market bets on 2022 tightening (75bp are priced in for the next 12 months). We think this can help SEK find some support, with some stabilisation in US tech stocks (to which the krona is particularly sensitive) also helping out.”
“We expect EUR/SEK to slip into the 10.30-10.35 range today.”
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