After this morning’s happy news from the Central Statistics Office, there were many who cheered. Prices in Sweden develop more slowly than in several years and several goods actually became cheaper during the month of March, the authority announced.
The best news for a long time for the Swedish economy
The Swedish krona loses value
But there is a dull effect of the falling inflation rate. The Swedish krona is now losing value compared to the dollar and the euro.
On Friday afternoon, the dollar reaches its most expensive quotation this year.
Bad for the summer holidays
Even if the low inflation figures can get domestic consumption going in Sweden, and lead to lower interest rates in the long run, it does not bode well for the summer holidays that the dollar and the euro have become so expensive.
In the past, Swedish banks have counted on a strengthened krona on the world market. But that picture has been revised down somewhat.
The crown in free fall. Photo: Henrik Holmberg / TT Most expensive dollar of the year
At the time of writing, the US dollar costs SEK 10.91. It is a full 18 öre higher than on Thursday, and the most expensive listing this year.
In an interview with Dagens Industri says Robert BergqvistSEB’s senior economist and currency expert, should not be enough to stop interest rate cuts.
Temporary currency devaluations should not threaten the rate cut predicted for May.
– You have to get a lasting weakening of the krona for it to start affecting the economy,” he says Today’s industry.
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