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It's all down to Ingves

RIKSBANK
  • What this really comes down to now, is when/if Ingves changes his view. Based on the Nov minutes, Skingsley and Jansson seem a long way from moving to any tighter policy, will Ingves become more hawkish in April?
  • It's been very hard to read his view and as we noted in the Riksbank preview, he often speaks for the Board and is the marginal voter, so it can be hard to distinguish what is the Executive Board view vs what is his personal view. We will be looking to try and disseminate the two in the press conference.
  • For the interim, SEK is likely to remain under pressure.

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