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Sweden Policy Rate 4.0% (consensus 4.0) in Nov-23

• The Riksbank held its policy rate at 4.0%, in line with economic consensus, balancing the need to address high inflation with evidence of its gradual decline and easing inflationary pressures.
• Future interest rate decisions will hinge on a comprehensive assessment of economic indicators, including inflation trends, GDP growth, and unemployment rates, with a potential gradual increase in the policy rate forecasted for the next year.
• The decision reflects a broader perspective, considering global economic conditions and the valuation of the krona, with a commitment to data-driven, responsive policymaking in the face of evolving economic scenarios.

Sweden Unemployment Rate 7.4% (consensus 7.9) in Oct-23

- Sweden's unemployment rate in October 2023 decreased to 7.4%, bullishly surprising the consensus expectation of 7.9% and reaching its lowest level since July 2023.
- Despite the positive trend in the unemployment rate, other economic indicators, such as declining retail sales and contraction in the PMI readings, point to underlying weaknesses in the Swedish economy.

Sweden CPI Inflation 6.5% y-o-y (consensus 6.7) in Oct-23

- Sweden's CPI inflation stood at 6.5% y-o-y in October 2023, undershooting the consensus forecast of 6.7%.
- The CPIF inflation measure recorded 4.2% y-o-y in the same period, slightly below the consensus forecast of 4.3%.

Sweden Unemployment Rate 7.7% in Sep-23

- Sweden's unemployment rate remained unchanged at 7.7% in September 2023, indicating stability in the labor market.
- However, the current unemployment rate is slightly higher than the one-year average.