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MNI BRIEF: Optimism Inflation Can Be Curbed -Riksbank Jansson

(MNI) London
(MNI) London

Riksbank Deputy Governor Per Janssson said central banks have acted in unison and he is optimistic that high inflation will be curbed.

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Riksbank Deputy Governor Per Jansson expressed optimism that with central banks having acted "relatively early and in unison" that the prospects for dampening global inflation were good. At a Swedbank event Friday, Jansson said that comparisons with the 1970s were misleading, despite inflation having risen to a level, over 9%, that was similar to that seen in the 70s.

The way wage formation took place in Sweden now meant that there was a reduced risk of wage-price spirals, with industry able to apply a brake to upward pressure on wages, Jansson said. He added that there was strong political support for controlling high inflation and that "the conditions for meeting that challenge are good."

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Riksbank Deputy Governor Per Jansson expressed optimism that with central banks having acted "relatively early and in unison" that the prospects for dampening global inflation were good. At a Swedbank event Friday, Jansson said that comparisons with the 1970s were misleading, despite inflation having risen to a level, over 9%, that was similar to that seen in the 70s.

The way wage formation took place in Sweden now meant that there was a reduced risk of wage-price spirals, with industry able to apply a brake to upward pressure on wages, Jansson said. He added that there was strong political support for controlling high inflation and that "the conditions for meeting that challenge are good."

Keep reading...Show less