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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
Although Swedish inflation surprised consensus and the Riksbank to the downside in June, CPIF ex-energy momentum (measured as a 3m/3m SAAR) ticked up slightly to 2.2% (vs 1.6% prior).
- The uptick in 3m/3m momentum comes as high readings in April and May offset the June figures.
- However, the longer-term trend of seasonally adjusted underlying inflation remains favourable for the Riksbank, with the 6m annualised rate falling to 1.7% (vs 2.8% prior) and the 3m rate to 2.7% (vs 2.8% prior).
- Following the release, analysts unsurprisingly tilt heavily towards a 25bps rate cut in August.
- DNB have formally brought forward their call for the next cut to August (vs September previously).
- Handelsbanken continue to look for a September cut for now but note the possibility of an upcoming change.
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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