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Minutes: Sellside views

RIKSBANK

Nordea

  • "The minutes had a small hawkish tilt as some board members are somewhat more open than expected to reduce the balance sheet during the next year. We expect the Riksbank to keep the repo rate unchanged at 0.0% the coming years, while a reduction of the balance via less reinvestments of maturing mortgage bonds is definitely possible during the course of 2022."

Swedbank

  • "Only a tiny hawkish step compared to the last meeting's minutes."
  • "The board held on to its dovish policy and we interpret the minutes as slightly softer than we had expected. Nevertheless, today's minutes confirms our view that an increase in the repo rate path at the end of the forecast period is likely to be announced next meeting (in November)."

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