{"id":97648,"date":"2020-03-18T03:30:24","date_gmt":"2020-03-18T07:30:24","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97648"},"modified":"2020-03-18T04:46:13","modified_gmt":"2020-03-18T08:46:13","slug":"102718-gbp-sek-pound-advances-after-uk-chancellors-330-billion-lifeline","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102718-gbp-sek-pound-advances-after-uk-chancellors-330-billion-lifeline\/","title":{"rendered":"GBP\/SEK: Pound Advances After UK Chancellor\u2019s \u00a3330 Billion Lifeline"},"content":{"rendered":"

After UK Government pledged a \u00a3330 billion bailout package the Pound<\/a> is moving higher versus the Swedish Krona<\/a>. The move northward comes after the Swedish Krona advanced versus the Pound on Monday, as volatility in the pair continues.<\/p>\n

At 06:50 UTC, GBP\/SEK<\/a> was trading up 0.4% at 11.9786, off from the high of 12.0551 reached overnight<\/p>\n

Check real time GBP to SEK exchange rate<\/span><\/a><\/div>\n

Chancellor To The Rescue<\/h2>\n

The Pound is on the front foot on Tuesday after the Chancellor, Rishi Sunak, announced a \u00a3330 billion rescue package to keep the UK afloat. The Government will offer business loans of up to \u00a35 million, three-month mortgage holiday and no rates for pubs and restaurants for a year. These measures aim to shield the UK economy from the economic hit that coronavirus will bring.<\/p>\n

The announcement came after Boris Johnson advised stricter measures of social distancing, isolation and quarantine; measures which will negatively impact the British consumer driven economy in a very sharp and deep way. The bailout by the government is aimed at preventing the UK going bust over the coming months of the unprecedented combined supply shock demand shock.<\/p>\n

The ramp up of support by the government to businesses is a step in the right direction to underpin the economy. Now the funds must be available, and firms must be able to get them quickly. Some economists also expected additional measures in the coming days, including from the Bank of England, which could cut rates again and start a fresh round of quantitative easing, or bond buying.<\/p>\n

Large Room For Fiscal Stimulus In Sweden<\/h2>\n

The Swedish Krona advanced in the previous session and was showing resilience as trading begins on Wednesday. Comments from Riksbank Governor Stefan Ingves have help support the currency.<\/p>\n

Stefan Ingves said that Sweden has \u201cvery large room for fiscal policy measures\u201d. However, he also cautioned that Sweden has very large debt in the household sector, which also needs to be handled. He added that the Riksbank tool kit was finite, however he said that there were other tools to use such as fiscal and tax policy.<\/p>\n

His comments come after the Riksbank decided to lend up to 500 billion in Swedish Krona to the country\u2019s banks in an effort to maintain the supply of credit to Swedish companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

After UK Government pledged a \u00a3330 billion bailout package the Pound is moving higher versus the Swedish Krona. The move northward comes after the Swedish Krona advanced versus the Pound on Monday, as volatility in the pair continues. At 06:50 UTC, GBP\/SEK was trading up 0.4% at 11.9786, off from the high of 12.0551 reached […]<\/p>\n","protected":false},"author":163946597,"featured_media":83761,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1698],"tags":[2523,2139,1391,1673,2322,1646,1647],"class_list":{"0":"post-97648","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-sek","9":"tag-bailout-packahe","10":"tag-coronavirus","11":"tag-pound","12":"tag-riksbank","13":"tag-rishi-sunak","14":"tag-sek","15":"tag-swedish-krona"},"acf":[],"yoast_head":"\nGBP\/SEK: Pound Advances After UK Chancellor\u2019s \u00a3330 Billion Lifeline - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102718-gbp-sek-pound-advances-after-uk-chancellors-330-billion-lifeline\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102718-gbp-sek-pound-advances-after-uk-chancellors-330-billion-lifeline\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102718-gbp-sek-pound-advances-after-uk-chancellors-330-billion-lifeline\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/SEK: Pound Advances After UK Chancellor\u2019s \u00a3330 Billion Lifeline\",\"datePublished\":\"2020-03-18T07:30:24+00:00\",\"dateModified\":\"2020-03-18T08:46:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102718-gbp-sek-pound-advances-after-uk-chancellors-330-billion-lifeline\\\/\"},\"wordCount\":409,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102718-gbp-sek-pound-advances-after-uk-chancellors-330-billion-lifeline\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/sek-bank-notes-swedish-krona.jpg\",\"keywords\":[\"Bailout packahe\",\"coronavirus\",\"pound\",\"Riksbank\",\"Rishi Sunak\",\"sek\",\"swedish krona\"],\"articleSection\":[\"GBP\",\"SEK\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102718-gbp-sek-pound-advances-after-uk-chancellors-330-billion-lifeline\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102718-gbp-sek-pound-advances-after-uk-chancellors-330-billion-lifeline\\\/\",\"name\":\"GBP\\\/SEK: Pound Advances After UK Chancellor\u2019s \u00a3330 Billion Lifeline - 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