Swedish Central Bank Expands QE

The Swedish crown and 10-year government bond yields dropped to two-month lows on Wednesday after Sweden’s central bank expanded its asset purchase program and vowed to intervene in the currency market if an upturn in inflation is threatened.

The Riksbank held its benchmark repo rate unchanged at -0.35 percent, as expected, and said it would expand its bond buying program by 65 billion Swedish crowns ($7.65 billion) to a total of 200 billion crowns.

The crown fell to 9.4360 per euro, down 0.4 percent on the day, before recovering to trade at 9.3950, broadly unchanged on the day.

The dollar rose to around 8.5434 crowns, up 0.2 percent on the day.

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza