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MNI BRIEF: Riksbank Hikes 50bps; Front-Loads Tightening

(MNI) London
(MNI) London

The Riksbank hiked by 50bps to 0.75% and projected front-loaded hikes; policy rate at 2.06% in 3 yrs

True

The Riksbank delivered its widely expected 50 basis point hike, taking the Policy Rate to 0.75%, at its June meeting and published a projected rate path that showed it front-loading tightening.

The newly renamed Policy Rate was shown rising to close to 2% by the start of the next year and then only drifting up very gradually, to stand at 2.06% at the end of the three year forecast period. The profile suggests tightening at each meeting through early 2023 and leaves the door open to another 50 bps hike.

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The Riksbank delivered its widely expected 50 basis point hike, taking the Policy Rate to 0.75%, at its June meeting and published a projected rate path that showed it front-loading tightening.

The newly renamed Policy Rate was shown rising to close to 2% by the start of the next year and then only drifting up very gradually, to stand at 2.06% at the end of the three year forecast period. The profile suggests tightening at each meeting through early 2023 and leaves the door open to another 50 bps hike.

Keep reading...Show less