Riksbank keeping calm due to weak krona?

Riksbank too is likely to be concerned about its inflation target in view of falling oil prices. Contrary to the ECB at least exchange rate developments provide it with a reason to be pleased. Over the past few months the krona has principally depreciated against EUR. 

"That means Riksbank has even surpassed its target of preventing krona depreciation and it does not have to take action urgently. Even if the market was to react with disappointment if Riksbank does not take any further expansionary measures today it still has the opportunity to react at a later stage should the krona appreciate as a result of today's decision", says Commerzbank. 

After all Riksbank underlined often enough that it would also be willing to take action between regular meetings. So far Riksbank has never given the market any opportunity to questions its threats. Therefore, a limited depreciation potential in EUR-SEK medium term is seen, adds Commerzbank.