Riksbank's Ingves: 5-year inflation expectations fairly close to target

The economic development is closer to the positive scenario given in the latest monetary report, Stefan Ingves, Governor of Sweden's central bank, Riksbank, said on Wednesday.

"If the Swedish crown strengthened too fast it would be even harder to reach inflation target, but we are not there yet," Ingves added, as reported by Reuters. "5-year inflation expectations are fairly close to the target."

Market reaction

The EUR/SEK pair edged higher after these comments and was last seen trading at 10.4570, where it was up 0.58% on a daily basis.