Denmark is shelving indefinitely its euro adoption goal as Prime Minister Helle Thorning-Schmidt says an exchange rate peg without full European monetary membership is proving the best currency regime for the Nordic nation.
Swedish Finance Minister Anders Borg said banks in the largest Nordic economy are taking too long to wean themselves off foreign funding as he warns the financial industry will need to pay for the risks it’s creating.
Sweden needs to make sure European banking rules don’t make it overly dependent on liquidity from the European Central Bank, the Federal Reserve or the Bank of England, Swedish Finance Minister Anders Borg said today.
Swedish Finance Minister Anders Borg said the country would need to act should additional krona strength add to pain for exporters, sticking by comments made earlier this week that drew fire from opposition politicians.
The Bank of Korea cut interest rates, following the lead of policy makers in Australia, Europe and India this month, as strength in the won and weakness in the yen dim the outlook for the nation’s exports.