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Forex News: Swedish Krona At 8-month Low Vs Euro As

Swedish Krona At 8-month Low Vs Euro As Riksbank Delays Rate Hike Plans

04/25/2019 - 05:47:00 (RTTNews)

(RTTNews) - The Swedish Krona depreciated against the euro in the European session on Thursday, after Sweden's central bank left its key interest rate unchanged and said they will remain at the current level for a longer period than forecast in February.

"The Executive Board has decided to hold the repo rate unchanged at -0.25 per cent and assesses that the rate will remain at this level for a somewhat longer period of time than was forecast in February," the Riksbank said in a statement.

The decision was in line with economists' expectations.

The Swedish Krona declined to 10.66 against the euro, its weakest since August 27, 2018. The pair finished Wednesday's trading at 10.52. Next support for the Krona is seen around the 11.00 region.

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