Sweden’s CPIF inflation surprises above expectations – ING
By FXStreet Insights Team
Date Published: 6 Nov 2025 | Date Modified: 6 Nov 2025
Sweden’s October CPIF inflation came in hotter than expected, reinforcing the Riksbank’s cautious stance on further rate cuts, ING's FX analyst Francesco Pesole notes.
Sweden’s October CPIF inflation came in hotter than expected, reinforcing the Riksbank’s cautious stance on further rate cuts, ING's FX analyst Francesco Pesole notes.
EUR/SEK reaction muted as markets adjust slowly
"In Sweden, CPIF inflation for October came in a bit hotter than expected at 3.1%, with core also slightly above consensus at 2.8%. This broadly endorses the Riksbank's unchanged message yesterday: the bar for another cut is high."
"The EUR/SEK reaction has been small as markets were pricing in little to no chance of more cuts ahead. Anyway, the data modestly reinforces our bearish EUR/SEK view. We are now targeting a return to 10.90 in the near term."
