• Sweden's services PMI lowest since 2009
• Swedish krona losing its safehaven status

Bloomberg said that Europe’s debt crisis will probably keep up pressure on Sweden’s currency to weaken further, helping support the largest Nordic economy amid slumping demand, according to Swedish Finance Minister Anders Borg.

In an interview with the newswire Borg said that further krona depreciation is “a good stabilizer” and acts “as a buffer” when global demand is slowing.

“I’m very happy when the krona is depreciating and weakening when we have weakness in world demand. If we should see further weakness in the euro area I’m presuming that the krona would weaken further”, he said. 

Riksbank Deputy Governor Karolina Ekholm recently said the weakening of the krona has eased the need for policy makers to revise their inflation forecast lower.