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- EUR/SEK: Krona to weaken over the coming quarters – Danske Bank
EUR/SEK: Krona to weaken over the coming quarters – Danske Bank
Riksbank has hiked by 75 basis points as expected. However, economists at Danske Bank expect the Swedish Krona to weaken in the coming months.
Slightly dovish tilt
“The 75 bps hike to 2.50% and a the slightly higher rate path was bang in line Overview of macro forecasts with our expectations. They will also end QE reinvestments as of year-end. The revised rate path is still somewhat shy of market expectations, and hence somewhat dovish.”
“The initial reaction is for a somewhat weaker SEK, which seems warranted given the slightly dovish rate path (compared to market pricing).”
“We don’t see anything in either monetary policy or the Riksbank’s communication here and now that changes the outlook for the SEK over the coming quarters, where we expect a further weakening.”
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