Swedish Krona Rises After Riksbank Signals Future Rate Hikes
Dow Jones
1 hour ago
0750 GMT - The Swedish krona rises after the Riksbank held interest rates at 1.75% but said rates should be raised more than previously anticipated in future. Sweden's central bank said if the outlook for inflation and economic activity remains unchanged, it expects rate increases to begin this year. Economic activity is stronger and supply shocks from the Middle East conflict continue, it said. While August inflation was low and in line with the Riksbank's forecast, the central bank sees risks that inflation could rise more than previously expected due to higher oil prices and a weaker krona. The euro falls 0.4% to an intraday low of 11.2439 krona, compared to 11.2776 beforehand.
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