Bloomberg said Sweden has taken yet another step to distance itself from policies targeting competitive devaluations as exporters were told a strong krona provides opportunities to make their businesses more efficient.

“It’s good for companies that they need to understand that they have to compete with real tools rather than the imaginary tool that the exchange rate is,” Financial Markets Minister Peter Norman old the newswire.

Swedish exporters have warned that continued krona appreciation will force them to cut jobs. But the government and central bank have repeatedly rejected talk of boosting trade competitiveness through the exchange rate, Blomberg said