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MNI RIKSBANK WATCH: Cut Likely,Though Guidance May Be Cautious

(MNI) London

The Riksbank has clearly signalled a rate cut, with one most likely in May.

Sweden’s central bank is widely seen making its first reduction to interest rates of the cycle at this week's meeting, after its March rate projection suggested a cut in either May or June, and Governor Erik Thedeen indicated the cut would likely come earlier if economic data kept in line with March’s forecasts.

Most analysts expect the Riksbank to say that it is cutting its policy rate by 25 basis points to 3.75% on Wednesday, putting it ahead of the pack of advanced economy central banks as they shift into easing mode.

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Sweden’s central bank is widely seen making its first reduction to interest rates of the cycle at this week's meeting, after its March rate projection suggested a cut in either May or June, and Governor Erik Thedeen indicated the cut would likely come earlier if economic data kept in line with March’s forecasts.

Most analysts expect the Riksbank to say that it is cutting its policy rate by 25 basis points to 3.75% on Wednesday, putting it ahead of the pack of advanced economy central banks as they shift into easing mode.

Keep reading...Show less