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Swedish Krona rises after Riksbank hawkish hold
The Riksbank kept its policy rate at 1.75% for a ninth month and signaled roughly 75 basis points of tightening over the next 12 months to 2.50%.
Brown Brothers Harriman, via FXStreet, said the Swedish krona rallied after the Riksbank delivered a hawkish hold, keeping rates unchanged while signaling more tightening ahead.
The Riksbank maintained its policy rate at 1.75% for an eighth consecutive meeting, and its updated rate path points to nearly 75 basis points of hikes over the next twelve months, taking the forecast to 2.50%.
BBH said the firmer policy stance is expected to support SEK versus major currencies, with the new outlook aligning more closely with market pricing after previously implying 25 basis points of tightening in June.