The Swedish krona tanked today after nation’s inflation slowed unexpectedly last month, threatening the central bank’s plans to raise interest rates.
Sweden’s annual consumer inflation slowed to 1.9% in January from 2.0% in the previous month. That was contrary to analysts’ forecasts, which promised an increase to 2.2%.
Previously, the krona was supported by prospects for an interest rate hike in the second half of this year. But such prospects diminished after the weak inflation print.
USD/SEK jumped from 9.2539 to 9.3613 as of 14:20 GMT today, touching the high of 9.4169 intraday — the highest level since December 2016.
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Swedish Krona Plunges After Inflation Slows Unexpectedly
