January 30, 2024 12:05 GMT
MNI Riksbank Preview: February 2024 - QT Acceleration Eyed
The Riksbank is widely expected to leave the policy rate on hold at 4.00% in its first meeting of 2024, with most focus on whether (or, more likely, by how much) the pace of government bond sales will be increased.
- The MNI Markets Team expects no change to the policy rate and an increase in the pace of bond sales to around SEK6.5bln/month.
- Of the analyst previews we have seen, there is a unanimous expectation for rates to be held steady. With respect to QT, all but one analyst that expressed a view expect an increase from the current pace of SEK5bln/month, with estimates ranging from SEK5bln (no change to the current pace) to SEK8bln. The median estimate is SEK7bln.