The month of May is almost over and the first summer month of the year is approaching. In line with that, many people are also counting down the days until they can go on holiday.
In times where most things in society have become more expensive, it has also become more difficult to make enough money each month. That’s how it looks to be when the summer budget is calculated.
But then there are different ways to stretch the holiday fund. One way could be to sell off what you no longer need or skip the lunch out at work, in order to have some money left over.
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Photo: Fredrik Sandberg/TTE the economist: Sweden in the hands of the USA
In a new economic forecast from Handelsbanken highlights the fact that the Swedish currency is positively affected by the fact that lower interest rates have contributed to strengthening both the labor market and the household economy.
After the inflationary situation of recent years, the Swedish krona is now slowly on the rise again. However, it may take some time before it is felt in your wallet. The reason is Sweden’s dependence on the US central bank.
– Sweden and the Swedish krona are to some extent dependent on developments in the global economy, and one thing that is required to strengthen the krona is that the appetite for risk returns, says Handelsbanken’s chief economist Christina Nyman to News24 and adds:
– In the short term, this means that the krone is in the hands of the US central bank, the Federal Reserve. As long as the Federal Reserve keeps interest rates high, the risks to the global economy are elevated and the risk appetite to own kroner is low.
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Christina Nyman is chief economist at Handelsbanken. Photo: Tomas Oneborg/SvD/TT
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Then your economy is strengthened according to the chief economist
Due to the fact that the Swedish krona is dependent on developments elsewhere, it is a bumpy road ahead, which contributes to delaying the jingle in the holiday fund.
But if the krona is strengthening, when can it be felt in our wallets?
– Anyone who hopes that a stronger krona means a strengthened travel fund risks being disappointed. The lift will be delayed until after the summer, she says.
Instead, Nyman urges the Swedes to vacation at home in order to keep expenses down and at the same time increase the chance of keeping the travel fund intact.
– Why not take a holiday in Sweden? Sweden has so much to offer and you don’t have to think about exchange rates.
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