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Sweden’s Riksbank hikes rates 100bps, but the Krona doesn’t care!
The Riksbank feels like it got burnt one to many times by not raising interest rates enough. Therefore, it raised rates by 100bps today and said there is more to come.
Sweden’s Riksbank could be on hold for years; USD/SEK
Could an interest rate hike now be in their guidance over the next 2 years?
USD/SEK: Post-Riksbank bounce only lasted a SEK
Global markets went into a panic overnight as oil (WTI) took a tumble all the way down to the lower-26.00s, USD/JPY collapsed below 111.00 before an apparent “rate check” by the BOJ, and gold soared to 1240. Meanwhile, lost in the admittedly exciting roller coaster ride of volatility, the world’s oldest central bank surprised traders by cutting interest rates deeper into oversold territory.
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