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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SWEDEN
Swedish April CPI is due at 0700BST/0800CET, with analysts expecting a small uptick after March’s surprisingly low print.
- In some ways, the importance of the inflation figure will best be gauged after the release of the Riksbank’s May meeting minutes at 0830BST.
- Following the guidance for 2 further rate cuts in H2 2024 (i.e. making a June rate cut unlikely), it will be interesting to see if any Executive Board members still consider a June cut to be on the table, or whether any members strongly considered holding rates in May.
- In any case, we will still get one more inflation print on June 14 before the June 27 meeting.
- Current Bloomberg consensus sees CPIF ex-energy at 3.0% Y/Y, while the Riksbank expected 3.3% Y/Y in the March MPR.
- An in-line reading would see the Riksbank’s March MPR forecast error reduce to -0.3pp (vs -0.4pp after the March print).
- Analysts generally expect rents to exert upward pressure on inflation in April, alongside food and energy.
- See below for a selection of analyst views from Scandinavian banks:
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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