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RIKSBANK: SEB See Riksbank On Hold At 2.25%, Remove May Rate Cut

RIKSBANK
Central Bank NewsSwedenCEEMEA RiksbankBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Following this morning’s higher-than-expected February inflation report, SEB no longer expect the Riksbank to deliver any more rate cuts this cycle. They had previously expected one more 25bp rate cut in May to a terminal of 2.00%.
  • “A weak labour market means that a rate cut later this year can not be ruled out, but the Riksbank will need confirmation that inflation is turning lower again before cutting. This will require several months with low monthly inflation readings, suggesting that a near-term rate cut is unlikely”.
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  • Following this morning’s higher-than-expected February inflation report, SEB no longer expect the Riksbank to deliver any more rate cuts this cycle. They had previously expected one more 25bp rate cut in May to a terminal of 2.00%.
  • “A weak labour market means that a rate cut later this year can not be ruled out, but the Riksbank will need confirmation that inflation is turning lower again before cutting. This will require several months with low monthly inflation readings, suggesting that a near-term rate cut is unlikely”.