The EUR/SEK currency pair snapped a two-day string of losses on Wednesday ahead of the outcome of the European Central Bank’s and Sweden’s Riksbank policy meetings.
The European Central Bank is largely expected to keep its main refinancing operations rate intact at 2.15% at its March 19th meeting.
And, the ECB deposit facility rate is expected to be kept at 2.00%.
ECB President Christine Lagarde had said 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, Sweden’s Riksbank is expected to leave its key policy rate intact at 1.75% at its March 19th meeting.
Policy makers had 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 EUR/SEK currency pair was last up 0.64% on the day to trade at 10.7690.
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