Swedish Rate WrapWeak core inflation to lower the repo rate path

Weaker figures, primarily for the CPIF excluding energy, will in all probability prompt the Riksbank to lower its repo rate forecast at its monetary policy meeting in two weeks. In our view, major revisions are not warranted because the Swedish krona is markedly weaker than the Riksbank's forecast. We now expect the Riksbank to increase the repo rate by 25 basis points in December, instead of in September.

Claes Måhlén

Chief Strategist

Fixed Income

clma02@handelsbanken.se

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