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Repo rate on hold as expected with the.....>

RIKSBANK
RIKSBANK: Repo rate on hold as expected with the repo rate path at zero until
the end of the forecast horizon. Verbal guidance included that rates can be cut
too - also as expected.
- QE extended by SEK200bln - that's the top of the range of expectations and
most hadn't expected an announcement until September.
- Corporate bonds being included from September in the Riksbank's purchases was
something that had been considered a possibility but also wasn't expected this
month.
- The Riksbank has also cut rates on the lending to banks (its version of the
Term Funding Scheme).
- So overall this is pretty much as dovish as the Riksbank could have been
expected to be today.

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