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MNI STATE OF PLAY:Riksbank Hikes 50bps, Front-Loads Tightening

(MNI) London

The Swedish central bank hiked 50bps to 0.75% in June and signalled rapid, early tightening to take the policy rate to around 2%

Sweden’s central bank hiked its policy rate by 50 basis points in June to 0.75% as expected and signalled rapid further tightening before pausing at around 2.0% from early 2023.

The Riksbank Executive Board's collective rate path points to tightening again by 50-bps in September and November, the two remaining meetings this year. Then, after hitting 2% quickly, the policy rate is seen drifting to 2.06% by the end of the three-year forecast period, 25 bps above the 1.81% peak foreseen in its main scenario in April.

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Sweden’s central bank hiked its policy rate by 50 basis points in June to 0.75% as expected and signalled rapid further tightening before pausing at around 2.0% from early 2023.

The Riksbank Executive Board's collective rate path points to tightening again by 50-bps in September and November, the two remaining meetings this year. Then, after hitting 2% quickly, the policy rate is seen drifting to 2.06% by the end of the three-year forecast period, 25 bps above the 1.81% peak foreseen in its main scenario in April.

Keep reading...Show less