Exchange Rate in Sweden
Sweden - Exchange RateThe economy will likely contract for the second consecutive quarter in Q2, under the strain of the effects of the coronavirus pandemic and associated social distancing measures. Since March, the government has advised citizens against non-essential travel, closed in-person attendance of high schools and universities, and banned gatherings of over 50 people. Meanwhile, the global economy has gone into a deep downturn, weighing on demand for Swedish exports. Although the economic tendency indicator, which measures business and consumer confidence, improved slightly in May, it still remained close to April’s reading, which marked an all-time low since current records began in 1996. Moreover, the unemployment rate rose sharply in April to the highest level since November 2014. This all comes after comprehensive data released on 29 May showed the economy grew meekly in Q1.
Sweden - Exchange Rate Data
|Exchange Rate (vs USD)||8.45||9.11||8.20||8.85||9.36|
5 years of economic forecasts for more than 30 economic indicators.
Sweden Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||0.15||-4.79 %||Jan 01|
|Exchange Rate||9.36||-0.20 %||Jan 01|
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July 7, 2020
Industrial output dropped 0.1% month-on-month in seasonally-adjusted terms in May (April: -16.4% mom).
July 1, 2020
At its monetary policy meeting on 30 June, the outcome of which was announced on 1 July, the Riksbank decided to expand its array of monetary policy support measures for the Swedish economy at a time of acute stress. The Central Bank announced it would double down on its asset purchasing program: It will now purchase SEK 500 billion worth of government, municipal and mortgage bonds up to the end of June 2021, with corporate bonds included in this program from September.
June 24, 2020
The economic tendency indicator rebounded to 75.2 in June from 64.4 in May.
June 11, 2020
Consumer prices with a fixed interest rate (CPIF)—which is closely followed by the Central Bank—increased 0.6% in May compared to the previous month, contrasting the 0.3% decrease in April and marking the largest increase in May since 2001.
June 4, 2020
Industrial production dropped 16.4% month-on-month in seasonally-adjusted terms in April (March: -0.1% month-on-month).