The main reason for this I believe is that the Swedish central bank AKA Riksbanken decided earlier this week to sell off large parts of its holdings in both € and $ in favor of the Swedish krona. By acting, they show the outside world that they believe in the Swedish krona. At the press conference, Riksbanken also emphasized Sweden's well-managed banks, etc.
The former head of Riksbanken, Stefan Ingves, failed catastrophically in his mission. Under his leadership, Riksbanken missed the target of 2% inflation in 201 months out of the 204 that he was head of Riksbanken.
From February 12, 2015 to January 7, 2020, the Swedish central bank applied negative nominal interest AKA negative interest. During these 59 months, Sweden had a boom.
I am aware that changing the culture that emerged under Stefan Ingve's rule during all these is not an easy task to change. I hope that the current head of state, Erik Thedéen, has managed to bring about to make some changes within the bank.
Perhaps it is the beginning of a new Riksbanken that we are seeing now that measures other than just raising the policy rate are taken.
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