The EUR/SEK currency pair bounced off a 41 1/2-month low of 10.4959 on Wednesday ahead of the outcome of the European Central Bank’s policy meeting.
The European Central Bank is largely expected to keep its main refinancing operations rate intact at 2.15% at its February 5th policy meeting.
And, the ECB deposit facility rate is expected to be kept at 2.00%.
In December, the ECB Governing Council reaffirmed its objective of bringing inflation back to the 2% target over the medium term and reiterated that rate decisions would continue to be taken on a meeting-by-meeting basis.
ECB President Lagarde emphasized that the central bank did not have a predetermined path for interest rates and, given the high degree of uncertainty, it could not provide forward guidance.
In Sweden, the services sector registered the softest growth since August 2025 in January, new data showed. The Swedbank Services PMI came in at 54.3 in January, down from 56.3 in December.
All sub-indices dropped in January, led by new orders, which plunged to a six-month low.
The EUR/SEK currency pair was last up 0.63% on the day to trade at 10.5717.
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