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Minutes: Thedéen: Overall risks to the upside

RIKSBANK
  • "There are features in the development of inflation that do not look good and that for me are clear signs that the job of bringing down inflation to target is not finished. The last stretch of the marathon is still to come!"
  • "As I currently see it, most indications are that the rate will have to be raised again in the autumn."
  • "My assessment is that the inflation risks are overall on the upside and I therefore do not rule out that we may have to increase the policy rate more than is indicated in the rate path in the draft report. I said at the previous meeting that we should adopt a more open approach to our forthcoming decisions. This still applies, but the inflation risks are more on the upside at this meeting, which justifies today’s decision and the elevated rate path."
  • "The development of the krona will therefore be an important factor - of several - in the design of monetary policy. However, there is no reason for the Riksbank to react to temporary movements in the exchange rate, but we need to deepen our understanding of the impact of the exchange rate on inflation."

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