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Minutes: Breman

RIKSBANK
  • "It is most likely that the current upturn in inflation is temporary and that inflation will fall back somewhat before approaching the target more sustainably...However, the increase we are now seeing highlights the importance of not dismissing the risk of persistently higher inflation earlier than in the current forecast. At the same time, there is considerable focus at the moment on high inflation and risks on the upside. I would therefore like to highlight the Riksbank's assessment in the draft Monetary Policy Report, which is that the risk outlook for inflation is balanced and that there are also risks on the downside."
  • "I could have envisaged a repo-rate path that indicates a rate rise at the end of the forecast period. The reason I am refraining from entering a reservation is the same as at the last meeting... To summarise: a near-term upwardly revised inflation forecast does not change the need for monetary policy to give support to the economy until we see that inflation approaches the target more persistently. The risk of serious setbacks in the recovery has decreased, however. I therefore support the termination of some of the lending programmes introduced in 2020 and the reintroduction of the previously applicable collateral requirements for lending from the Riksbank. I also support the decision to maintain the overall monetary policy stance at today's meeting."
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