Indeed, the extent to which a Greek crisis could add upward pressure on the SEK vis-à-vis the EUR, should keep the Riksbank cautious in signaling that its easing cycle is over and that a sustained SEK rally would be more tolerated.
Although any policy action is not expected in this meeting, the possibility of an intra meeting rate cut cannot be excluded in the coming weeks, should the Greek crisis escalate further, weighing on the EUR against its G10 peers.
This is a key risk seen that the Riksbank is close to the end of its easing cycle, says Barclays.


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