RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Bank of Japan Signals Cautious Path Toward Further Rate Hikes Amid Yen Weakness 
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
Riksbank is now concentrating on FX because it is worried that the non-FX tools are not much efficient in raising the credit multiplier and are leading funds towards low yield investments resulting in real estate and capital market disturbance.
Non-FX policy option consists of increasing buying SEK denominated assets, lowering the deposit rate below the current reading of -0.35%, or the central bank lending directly to firms sidestepping commercial banks.
"The Riksbank's apparent shift away from using domestically focused tools is a sign of economic weakness not of strength", says Societe Generale.
Riksbank's intervention might be seen as a chance to purchase cheap SEK on a dip by the investors. At present, the balance sheet of the Swedish central bank is at a moderate 15% of the GDP, much lower than the levels of other central banks.
