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Disappointing GDP data, but little impact for Riksbank policy

SWEDEN
  • Looks like there are downward revisions to Q3 Q/Q GDP in Sweden which make that -0.9%Q/Q print look even worse than at first glance.
  • EURSEK is back to where it was 20 minutes before the data. The market cares a lot more about inflation than activity data at the moment and this data is a bit too backwards looking to really have a big impact on Riksbank policy.

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