(edit title) Swedish Kronor strength And national bank intervention to weaken this Options

[sometimesinsweden]

Obviously been mentioned in various financial news comments that it's being used as a safe haven from the Euro, especially now CHF is capped, but will this strength cause problems for Swedish exports and if so, will the Swedish equivalent of the BoE ever cut interest rates intentionally to weaken the Kronor.? Could do with my mortgage getting cheaper!

[oddsock]

The central bank is the Riksbanken. Everybody thought they would follow the Euro last time and cut the rates, but they left them unhchanged... hence the strengthening Euro.

There is a bit of a bubble in the Swedish housing market, so they don't really want to be cutting rates either. But a strong Krona hurts exports.

Most likely intervention therefore would be for the Riksbanken to buy Euros.

[Localer]

I don't think the rates will be cut anytime soon though, probably stay the same or higher.

[Hisingen]

Since 15th May, the Krona has gone from 9,15 to the euro to today's high of 8.32. - the highest/lowest rate for the year. The euro is low against most currencies it would appear. A currency that should never have been introduced since the national variables have not allowed for any fluctuation, hence the situation we have in Greece, Spain, Italy, Ireland etc. Why any country is still wanting to join the Monopoly money circle beats me. maybe they will be looking for handouts too, before long. Than heaven Sweden, Denmark and the UK are not in euro farce, since things can only get worse.

[Yorkshireman]

The July forecast from Riksbanken was that rates would stay low (around the 1,5% mark) until mid-2013

[sometimesinsweden]

I don't think the rates will be cut anytime soon though, probably stay the same or higher.

Quarter percent rate cut today to 1.25.

Good news for mortgage owners

[canuk]

ill be switching to danska bank as they seem to actually care to compete with the other banks compared to skandiabanken which couldnt care less if their customer of 2 years left for another bank with a .35% discount on the rate. november 2011 will be the time that i can cut my montly bills by a large percentage.

[sometimesinsweden]

lucky you, im stuck with a SEB non-residential so would have great difficulty in switching as the contraints and requirements for that kind of loan have hugely increased since i first got it pre-2008.

SEB say rates staying low til mid-2013 then gradual increase to keep inflation at 2% but a lot seems to happen in 6 months, as 6 months ago, they were definitely going to be raising it...

[Taxalien]

If you are a full tax resident just get a "investeringssparkonto" and laugh all the way whenever that tax declaration comes your way.

I mean it makes ISAs in the UK look like a joke.

No limit on deposits.
No limit on withdrawals.
Very generous list of investment opportunities, such as cash, funds, shares listed anywhere in the EES/EU.
No tax on capital gains.
No tax on dividends.
No tax on interest paid.
Voting and representation rights at share holder meetings.
Covered by savings and investment protection guarantee scheme.
No imposed fee structure from your bank (I pay nothing for mine). Hence why they don't market the scheme.
And no tax forms to fill in at declaration time, all prefilled with info from your bank.

Tax?

(deposits + value at 31/3 + value at 30/6 + value at 30/9 value at 31/12) / 4 * state interest rate as was 30/11 year before * 30%.

Last year state interest rate was 1.65%.

Ie. for 1 million you pay about 3800 kr in tax per year, or for a 10% gain just an additional 120 kr or so.

Is it Sweden?

No it is so not Sweden, but it is here!

[james5]

I don't think the rates will be cut soon though, probably remain the same or greater.

[canuk]

what the f*uck are you even writing here. perhaps write in your native language and give google translate a go.