Wednesday, 31 August 2011

Swedish Krona Falls on Growth & Interest Rates Outlook

The Swedish krona fell today in front of all his comrades negotiated the government cut its growth forecast for the economy, spurring speculation the central bank will not be able to increase lending rates.

Sweden cut its forecast for growth this year of 4.6 percent to 4.1 percent. The forecast for next year fell 3.8 percent to 1.3 percent. The Riksbank will announce its decision on interest rates after the meeting on 7 September.

The OMX Stockholm 30 Index, the nation's index of key shares, fell 0.4 percent. The index has fallen 13 percent this month. Arne Lohmann Rasmussen, chief currency analyst at Danske Bank A / S, said the pension fund can sell the crown after the decline of populations, so an "excellent buying opportunity."

USD/SEK climbed from 6.2926 to 6.3524 as of 21:57 GMT today. The currency pair reached the high of 6.3883 during the trading session.

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