The recent rise in inflation is considered mostly temporary and there is no immediate need to tighten its monetary policy, according to the minutes of the most recent meeting of the Swedish central bank.
“With our history of low inflation in Sweden, monetary policy needs to remain focused on ensuring that inflation grows steadily and in line with the target,” said Central Bank Governor Stefan Ingves.
“This will be done through a combination of zero interest rate and gradual and careful reduction of measures in our balance sheet,” he added.
The Swedish central bank maintained its policy unchanged at the last meeting, arguing that inflation above the target will decline next year, but set the first rate hike after the pandemic, at the end of 2024.
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Source From: Capital
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