Riksbank’s Skingsley: We have not ruled out going into negative rate territory again

“We have not ruled out going into negative rate territory again,” Riksbank’s Deputy Governor Cecilia Skingsley said in a scheduled speech on Wednesday  |  20/01/2021 09:09

“We have not ruled out going into negative rate territory again,” Riksbank’s Deputy Governor Cecilia Skingsley said in a scheduled speech on Wednesday.

Last Wednesday, Skingsley downplayed worries over the appreciation of the Swedish krona (SEK), citing, “if krona strength were to become a big issue with regard to the inflation target, you would have to think about that, but at this point I don’t see any reason to be concerned about the exchange rate from an inflation target perspective.”

The Swedish central bank unveiled its new framework for maintaining foreign reserves last week, which saw the krona tank nearly 1% against the euro.

Market reaction

The krona slipped to daily lows of 10.1448 against the euro on the above comment. The EUR/SEK cross was last seen trading at 10.1366, up 0.20% on the day.

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