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SEK200bln expansion larger than expected

RIKSBANK

The Riksbank's decision to extend QE by SEK200bln was at the very dovish end of expectations.

  • Two members of the Executive Board dissented: Breman preferred a SEK100bln extension, Floden did not want extension of QE now.
  • "The programme now also includes treasury bills, and sovereign and municipal green bonds to ensure the broadest possible impact on rate-setting"
  • EURSEK hits a high of 10.1784 from 10.1350 pre-meeting.
  • Note our technical analyst earlier stated: "Key trend resistance resides at 10.2929, Nov 13 high. Ahead of this, the 20-day EMA at 10.2399 marks a firm resistance."

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