EURJPY TECHS: Bullish Outlook
* RES 4: 184.34 2.236 proj of the Jul 31 - Sep 29 - Oct 2 price swing * RES 3: 183.90 Bull channel t...
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RIKSBANK: Little Market Reaction With Decision Bringing No Surprises
As expected, little reaction in SEK FX and rates markets following the Riksbank decision and policy statement. Very light upside in NOKSEK appears driven by the NOK leg. There were no surprises in the Riksbank's guidance, and the decision was unanimous.
Continued labour market weakness was noted, though the Riksbank remains optimistic that a turnaround will take place soon (consistent with the September MPR projections).
"Growth was somewhat stronger than expected during the third quarter, according to preliminary statistics. At the same time, the labour market is still showing weak development, although there are now some signs that a turnaround is on its way. Overall, the outlook for inflation and economic activity remains largely unchanged."
RIKSBANK: Holds Policy Rate With Unchanged Guidance
The Riksbank holds the policy rate at 1.75% as unanimously expected. Guidance language was unchanged relative to September (as we had expected):
"The elevated inflation has begun to fall back, at the same time as economic activity is on its way to recovery. The outlook for inflation and economic activity thus remains largely unchanged and the Executive Board has decided to leave the policy rate unchanged at 1.75 per cent. The policy rate is expected to remain at this level for some time to come."
MNI: RIKSBANK LEAVES KEY POLICY RATE UNCHANGED AT 1.75%
- MNI: RIKSBANK LEAVES KEY POLICY RATE UNCHANGED AT 1.75%
