Chile Central Bank Holds Interest Rate at 4.5% as Inflation and Global Risks Persist 
BOJ Seen Holding Rates at 1% While Keeping Inflation Risk Warning 
Singapore Central Bank’s Exchange Rate Policy Explained: Why MAS Uses the S$NEER Instead of Interest Rates 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
ECB Expected to Hold Rates as Middle East Tensions Keep September Hike in Focus 
Inflation for October came out very much as expected. The CPI rose by 0.1% on the month, in line with forecasts. CPIF stood at 1.1% y/y, a tad higher than we had expected (1.0%) but in line with consensus and the Riksbank's view.
Notably, CPIF excluding energy decreased to 1.6% y/y from 1.8% in September. This was in line with the call but 0.1% point below the Riksbank's forecast.
The main surprise was food prices that rose somewhat while economists had expected them to edge down. Mortgage rates fell more than what had been expected, which affect the CPI but not the CPIF. Most other components came out in line with what was expected.
"We expect CPIF-inflation to rise the coming months, mainly due to base effects. Our forecast for the remainder of the year is a tad lower than the Riksbank's view. More important for the Riksbank is that the probability for SEK appreciation is looming, not least as we expect the ECB to take more action in early December. Therefore, we stick to our view that the Riksbank will cut rates in December",says Nordea Bank.
