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Riksbank Ready to End Negative Rates
On Thursday, Sweden’s Central Bank, Sveriges Riksbank (more commonly known as simply Riksbank) is set to hold their next Interest Rate Decision meeting. On October 24th, the Bank left interest rates unchanged at -0.25%, where it has been since late 2018. Despite the Riksbank noting that there is still uncertainty surrounding international economic activity and inflation, the Bank has signaled they are ready to raise interest rates to 0% on Thursday. On a daily timeframe, USD/SEK has been in an upward sloping wedge since mid 2017. The target for a broken rising wedge is a 100% retracement of the wedge, which would ... (full story)