The EUR/SEK currency pair settled below Friday’s high of 10.7156, its strongest level since January 20th, in the wake of the European Central Bank’s policy decision.
The latter kept its main refinancing operations rate intact at 2.15% at its February 5th policy meeting, in line with market consensus.
And, the ECB deposit facility rate was kept at 2.00%.
ECB President Christine Lagarde reiterated that monetary policy was in a “good place” and played down concerns that a stronger Euro could pose a risk to the inflation outlook.
Lagarde’s remarks suggested that interest rates were likely to remain steady for the foreseeable future.
The ECB President also warned that inflation figures could move unevenly in the coming months, but emphasized that policy decisions should not be driven by any single release of data.
Meanwhile, in Sweden, annual inflation has accelerated to 0.4% in January from 0.3% in December, preliminary data showed.
And, Sweden’s consumer price index with a fixed interest rate (CPIF), Riksbank’s target variable for inflation, went up 2% year-on-year in January, easing from 2.1% YoY in December.
Riksbank left its key policy rate intact at 1.75% at its January meeting.
Policy makers again indicated that borrowing costs would likely remain at this level for some time, as they assess the impact of the current policy stance.
Still, Riksbank warned that uncertainty over inflation and growth had risen, driven in part by geopolitical tensions and shifts in US trade and foreign policy.
The exotic Forex pair gained 0.97% for the week.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
