Riksbank prepared to ‘instantly intervene’ in krona
Governor and first deputy handed power to determine details of interventions
Sveriges Riksbank's executive board handed the governor and first deputy governor the power to "instantly intervene" in foreign exchange markets today (January 4), during an unscheduled monetary policy meeting.
Governor Stefan Ingves and first deputy Kerstin af Jochnick can now decide "the details with regard to possible interventions" to hold down the value of the krona. During the past month the Swedish currency has risen strongly, and the Riksbank fears further strength could cut short
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