The Swedish Krona drifted lower against the euro in European deals on Wednesday, after the Sweden Central Bank said that the bank is ready to expand monetary policy if needed to safeguard the inflation target.

According to the minutes of the rate-setting meeting held in September, the executive board unanimously voted to hold the repo rate at -0.50 percent and to continue to purchase government bonds in the second half of 2016 in line with the decision in April.

The Executive Board considers it appropriate to raise the repo rate slowly during the second half of 2017.

The Krona fell to nearly 3-week low of 9.5935 against the euro, compared to Tuesday's closing value of 9.5876. The Krona may find support around the 9.7 mark.

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