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(Z1) Off Lows, But Remains Weak


Still Vulnerable


Bullish Price Sequence

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The Riksbank Executive Board left the policy rate at zero following its September meeting and stuck to its forecast that it would stay at zero throughout its three year forecast horizon despite predicting that inflation would stay above target over the next year.

The Riksbank's forecasts in the Monetary Policy Report showed inflation on the CPIF measure, consumer prices with a fixed interest rate, peaking at 3.15% in November this year and staying above the 2.0% target until August 2022, when it was shown plunging back to 1.36% as base effects from higher inflation this year kick-in. The board's position was that expansionary monetary policy was needed to keep inflation close to target in the longer run.