Sweden’s Central Bank Lowers Interest Rate To 1.00%

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Sweden’s Central Bank Lowers Interest Rate To 1.00%
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Sweden's Central Bank Lowers Interest Rate To 1.00%

Being taken into effect tomorrow, the Swedish CB (Riksbanken) will lower the repo interest from 1.25% to 1.00%.

The Norwegian CB (Norges Bank) plans to issue a statement to the press at 1400 hours tomorrow, December 19th 2012.

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No plans have been heard so far from either the Danish CB (Nationalbanken) or Finnish CB (Soumen Pankki).

Comment:

Interesting, particularly in respect to the unchanged ECB interest rate!

This does speak to a localized Nordic phenomenon, having very little to do with the current Spanish and Greek crises. Alternatively known as the Greek hernia among olive growers – Or what ever specific buzz words CB’s produce when they are sweating.

This does make an educated guesser look elsewhere:

Nordea Bank AB (STO:NDA-SEK) has been very much in focus this quarter: SAS debacle, the issue of about 50 bio. USD in business bonds in Sweden this year by 3 major banks.

Perhaps this has more to do with Nordea Bank AB (STO:NDA-SEK) than anything else, though.

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