News Column

BRIEF: Sweden's krona declined after report

September 2, 2014

The Swedish Wire, Stockholm

Sept. 02--Bloomberg said that Sweden's krona declined after a report showed an expansion in manufacturing slowed more than estimated last month, adding to speculation the central bank will again lower interest rates.

Swedish central bank policy makers meet this week and are predicted to keep their benchmark rate unchanged at 0.25 percent. The bank in July cut its main rate by a more-than-estimated 50 basis points to prevent deflation from taking hold in the largest Nordic economy.

A report showed the Swedbank purchasing managers' index fell to 51 for last month, down from 55.1 in July and below the 54.8 estimated in a Bloomberg survey.


(c)2014 The Swedish Wire (Stockholm, Sweden)

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Source: Swedish Wire, The

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