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Minutes: Jansson views

RIKSBANK
  • " As the inflation forecast has been revised up significantly, an initial question to answer is whether or not this should lead to an adjustment in our monetary policy assumptions in a more contractionary direction. My answer is a clear no. Although inflation is predicted to be quite high, above 3 per cent for a period, it is affected to a large extent by temporary factors, which monetary policy in this situation should see through."
  • "At our monetary policy meeting in June, I discussed inflation dynamics in a slightly longer time perspective, beyond the normal three-year horizon, and drew the conclusion that the minor upward deviation from the target which looks likely in the longer term does not appear to justify a less expansionary monetary policy in the near term."
  • The "assessment, which I currently perceive to be entirely in line with our communication that only an inflation rate significantly and persistently above target would motivate a tightening of monetary policy, can obviously change if future forecast updates based on longer time horizons were to suggest that more troublesome, sustained inflationary pressures are building up"
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