Recurring series
SEBFinancial Forecasts
Finvaulta tracks 4 editions of Financial Forecasts from SEB, published between May 19, 2026 and September 1, 2026. Each edition is summarized on its own page.
Latest edition · September 1, 2026
FinancialForecasts
SEB presents its multi-year financial forecasts for central bank policy rates, government bond yields, swap rates, FX pairs, and energy commodities from September 2026 through 2028. The baseline outlook features policy rate easing by major central banks in 2027–2028, downward yield trends, dollar weakness, and moderating energy prices.
SEB's September 2026 Financial Forecasts outline baseline expectations across key global markets through late 2028. The Federal Reserve is expected to maintain its policy rate at 3.75% before lowering it to 3.25% in 2028, while the ECB is forecast to peak at 2.50% and settle back at 2.25%. Nordic central banks show divergence, with Norges Bank holding at 4.50% before cuts in 2027 and Riksbank lifting rates to 2.25%. In currency markets, EUR/USD is projected to strengthen to 1.20 by Q3 2027 alongside notable Swedish krona appreciation (USD/SEK declining from 9.58 to 8.75). Meanwhile, Brent crude and European TTF natural gas are projected to decline to $70/bbl and 30 EUR/MWh by 2028, respectively.
Read the latest edition in fullKey takeaways from the latest edition
- 1.The Federal Reserve policy rate is projected to remain steady at 3.75% through Q2 2027 before declining toward 3.25% by 2028, with US 10-year yields easing from 4.78% to 4.50%.
- 2.The ECB deposit rate is forecast to peak at 2.50% through 2027 before declining to 2.25% in 2028, while German 10-year bund yields moderate from 3.35% toward 2.85%.
- 3.EUR/USD is expected to steadily appreciate from 1.16 to 1.20 by Q3 2027, while USD/SEK is projected to decline from 9.58 to 8.75.
What this series covers
- Financial Forecasts
- Central banks
- 2Y Gov
- 10Y Gov
- Commodities
- FX
- Cross rates
- Germany
- Sweden
- Denmark
- United States
- Norway
- United Kingdom
- 10y spread vs. Germany (constant mat govt yield)
Edition archive
Series at a glance
- Editions tracked
- 4
- First edition
- May 19, 2026
- Latest edition
- September 1, 2026