Bloomberg said that Sweden’s consumer prices declined in June as a recession in the euro-area weighed on demand and a stronger krona pushed down import costs.

“There is almost a 50 percent likelihood that the Riksbank will cut rates in September or October” as it will probably have to reduce its forecasts for growth, wage increases and inflation, Mikael Nilsson Rosell, an analyst at Barclays Plc, told the newswire.

Finance Minister Anders Borg recently said there is more downside than upside risks to the forecasts and that “there’s a significant risk that things get messy in the financial markets this autumn, that money simply rushes out of weaker countries in Europe back home to the U.S.”