UPDATE 1-SEB Q1 profit tops forecast as it cashes in on market volatility

April 23, 2015 5:45 AM

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STOCKHOLM, April 23 (Reuters) - Swedish banking group SEB reported first-quarter operating profit above expectations on Thursday as its corporate customers sought more hedging and risk management on the back of high volatility and market uncertainty.

During the first quarter the Swedish central bank moved into uncharted territory as it slashed its benchmark interest rate twice to a record low of -0.25 percent to ward off the risk of deflation after two years of flat or falling consumer prices.

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