Latest news with #ErikThedeen
Reuters
22-05-2025
- Business
- Reuters
Inflation data supports view of easing pressure this year, Riksbank chief says
STOCKHOLM, May 22 (Reuters) - Information since the latest monetary policy decision does not deviate substantially from the view the Riksbank had earlier this month, Swedish Central Bank Governor Erik Thedeen said on Thursday. "We have somewhat elevated inflation but we expect it to come down during the course of the year," Thedeen told Reuters on the sideline of a conference. "The April inflation figures confirmed that view," he said. Consumer prices in Sweden, measured with a fixed interest rate, were up 2.3 percent in April from the same month last year, data showed last week. The Riksbank targets 2% inflation. The Riksbank held its policy rate at 2.25% this month but said a combination of lower growth and easing inflationary pressure might lead them to cut rates later this year. Thedeen also said that the financial systems have handled turbulence related to trade tariffs well.
Reuters
26-03-2025
- Business
- Reuters
Swedish central bank sees rate cuts at end but uncertainty high
STOCKHOLM, March 26 (Reuters) - Sweden's central bank is set to hold the interest rate steady for the foreseeable future, but rate-setters are ready to act if inflation deviates too much from the target, minutes of the latest policy meeting, published on Wednesday, showed. The Riksbank held its key interest rate at 2.25% on March 20 amid growing uncertainty about global trade. here. "Even though uncertainty over our forecasts has increased, most circumstances continue to suggest a relatively favourable economic development this year and the coming years," Riksbank Governor Erik Thedeen said in the minutes. Thedeen said there was a risk the United States will further raise tariffs on imports from the EU and that it could have "a fairly severe" impact on some Swedish companies but a limited one for the wider economy. The Riksbank held the rate after cutting it six times since spring last year, the last time in January when it said that it had probably done enough to boost a sluggish economy. Inflation outcomes since then have come in above expectations and the Riksbank said last week it expected consumer price increases to remain above the 2% target level through this year, before falling back. "Inflation has risen quite considerably since our last monetary policy meeting. There are, however, strong reasons to believe that the increase will not be persistent," Deputy Governor Per Jansson said. "Therefore, my view is not that the policy rate, as some are now speculating, will soon need to be raised. It is only if confidence in the inflation target starts to be threatened that I think such expectations are justified." Flash inflation figures for March are due on April 4. The Riksbank publishes its next rate decision on May 8.
Bloomberg
28-01-2025
- Business
- Bloomberg
Sweden Is Set to Cut Interest Rates Again
The Swedish central bank is likely to cut borrowing costs this week, delivering what could turn out to be its final move to aid growth in one of Europe's weakest-performing economies. The Riksbank Governor Erik Thedeen will announce a quarter-point reduction in the interest rate to 2.25% on Wednesday, according to almost all economists surveyed by Bloomberg. That would be its sixth easing step in the current cycle.
