11.03.2024

Exciting times await

Next week will be eventful in more ways than one. The outcome of the US presidential election will have a major impact on the Swedish krona's exchange rate, even if the market has already started to "price in" one of the candidates, reports the Swedish online newspaper Dagens PS Media AB.

Provided that a winner is decided on Tuesday or possibly early Wednesday morning Swedish time (GMT+2), Sweden will have one day's rest before the next important decision is published, namely the Swedish inflation figures for October and the Swedish centralbank AKA Riksbanken's decision on the policy rate.

The Central Bureau of Statistics (SCB) published for the first time last month a so-called "fast CPI", which is published about a week before the determined result. This time the "fast CPI" for October is published on 7 November 2024 at 8 a.m., while Riksbanken publishes its monetary policy decision including the policy rate on the same day at 9.30 a.m., i.e. 90 minutes later. I assume that SCB and Riksbanken exchange information with each other, which is not obvious in Sweden where strict secrecy prevails between the various authorities.

For example, the Swedish newspaper Expressen revealed that an internationally wanted gang leader and also one of Sweden's most feared criminals voluntarily contacted the Tax Agency, Sweden's equivalent to the IRS, and announced his whereabouts and received help with important documents. The newspaper's review also shows how the authority has long ignored several alarms about the notorious gang leader.

AI generated image with Grok

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