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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SWEDEN
Comments from Riksbank Governor Thedéen in an interview with Sveriges Radio over the weekend were in line with his balanced, if not slightly hawkish, commentary following the decision to hold rates last week.
- Thedéen reiterated that rate hikes were still on the table for the Riksbank, indicating a 50/50 chance of a hike at the next decision on Feb 1, 2024.
- Currently, the rate path indicates a peak of 4.10% (i.e. around 40% chance of another hike in the pipeline).
- He noted that a further hike could be seen if the SEK reversed its recent appreciative trend, and if services prices continued to remain sticky. However, he indicated that previous rate hikes were having an effect in household consumption data.
- Household lending data released this morning showed mortgage growth of 0.6% Y/Y, the 18th consecutive fall in the annual growth rate, while real household consumption has been on a declining trend despite a small pickup in recent months in the (volatile) monthly indicator.
- This week sees plenty of Riksbank-speak following the latest decision, with appearances from Thedéen, Flodén, Bunge and Jansson. Wednesday sees the final release of Q3 GDP (and its subcomponents) alongside the November Economic Tendency Survey, where business price plans will be closely eyed.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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