HomeEconomyRiksbank raises benchmark interest rate by 1%, beating expectations Economy Riksbank raises benchmark interest rate by 1%, beating expectations By inew September 20, 2022 0 155 views Share FacebookTwitterPinterestWhatsApp Dollar /SEK +0.10% Add to/Remove from watchlist Add to watch list Add Location Job added successfully : Please name your Collections Folder type: purchase Sell date: quantity: price Viewpoint value: Leverage: 1:1 1: 1: 1: 1: 1: 61 1: 10 1: 10 Committee: 200 200 CREATE NEW WATCH LIST CREATE 2002024 200 75 Create a new Holding Portfolio Add Create 200200 + Add another position to close EUR/SEK +0.% 58 Add to Watchlist/Remove from Watchlist Join to watch List Add Location Job added successfully: Please name your portfolio type: purchaseSell date: ) quantity: price Point value: Leverage: 1:1 1: 1: 1: 11 By Jeffrey Smith Investing.com — Riksbank raises its key 40interest rate a full percentage point to 1. 03% Tuesday, setting an ominous precedent for a handful of other central bank meetings later in the week. rose more than expected, analysts forecast only an increase 41 basis points. “Inflation is too high,” Riksbank said in a statement. “It’s eroding households’ purchasing power and making it harder for both companies and households to plan their finances.” Banks now expect inflation to average 8.6% remain around that level this year and next, only after back to near the 2% target . In this context, it warns It is likely to keep raising policy rates over the next six months. Sweden’s central bank is the first of a handful of advanced-economy central banks to hold a policy meeting this week, a move that could spook markets, waiting for 200 US Federal Reserve , This61 Bank of England and 58 Swiss National Bank Wait. SEK soared on the news but quickly retraced as market prices rallied from other institutions like the Federal Reserve and European Central Bank. go through: Eastern Time (: GMT), the krona fell 0.2% against the dollar on the day and100EUR . Nordea analyst Gustav Helgesson pointed out that the Riksbank’s statement implied that A relatively modest policy of further tightening from now on. He expects the bank’s next rate hike in November will only be basis points, while the bank’s own statement recommends starting from The first rate cut in the middle . The Riksbank said in a statement that it expects the policy rate to average 2.5 percent over the next two years. banks argue that by raising rates sharply now, it reduces the risk of taking more extreme action later. In another relatively dovish outcome, the Riksbank stuck to its current schedule and only halted asset purchases at the end of the year. By contrast, the European Central Bank has ended its quantitative easing policy, while the Bank of England intends to aggressively re-launch bonds in its quantitative easing portfolio this year. Even so, Helgerson said in a note to clients: “The rapid tightening of monetary policy It will hit the economy hard. That means inflation will also come down.” Share FacebookTwitterPinterestWhatsApp Previous articleiPhone 14 scores 7/10 on iFixit thanks to new back assemblyNext articleAverage land price in Japan rises for first time since pre-pandemic – government inewhttps://inew.news RELATED ARTICLES Economy Zelenskiy says nothing will weaken Kyiv’s resolve against Russia October 1, 2023 Economy Philippines eyes maiden sukuk issue in November October 1, 2023 Economy Credit Suisse, Mozambique secure out-of-court ‘tuna bond’ settlement October 1, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS Top 10 trending phones of week 39 October 1, 2023 Game Story: IKF gets Yankees on board with 2-run single ▶️ October 1, 2023 Kinnikuman Perfect Origin-Hen Anime Teased in Promo Video October 1, 2023 Zelenskiy says nothing will weaken Kyiv’s resolve against Russia October 1, 2023 Load more Featured NEWS photo August 26, 2022 Bill Damaschke In Final Talks With Warner Animation Group Chief (Exclusive) February 10, 2023 Here's Skip Bayless' favorite reason to work with Shannon | The Skip Bayless Show June 16, 2023 WGA Awards: List of winners (live in updates) March 6, 2023 Load more
