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Minutes: Ohlsson: Would not have objected to less corp/covered purchases

RIKSBANK
  • On QE reinvestments: "I would not have objected if the purchases of covered bonds and corporate bonds had been somewhat lower. Given the uncertainty we are now seeing, I consider that a well balanced monetary policy is to limit the concrete purchase plans to the first quarter"
  • "Given the developments we have seen and the forecasts presented in the draft Monetary Policy Report, I consider this [forecast] change in the repo rate path to be desirable"
  • "The decisive question is whether the upturn in inflation that we are seeing abroad and in Sweden and abroad is temporary or more lasting. I consider the best forecast at present to be that the upturn in inflation is temporary. However, as described in the draft Monetary Policy Report, if the supply problems become more prolonged, the conclusion may well change. If inflation expectations and wage demands are affected by the rising inflation, what we are now regarding as temporary may well become more lasting. Inflation in Sweden is not isolated from that in other countries. If inflation abroad were to become more lasting, inflation in Sweden would be influenced upwards."

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