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Sell-side reactions to this morning's inflation print (2/3)

RIKSBANK
  • DNB: "Pressure on the Riksbank to control inflation brings 75bp into play."
  • Handelsbanken: "Two weeks ago, the Riksbank's policy rate forecast almost fully implied 50bp rate rises at both the September and November meetings. Our forecast is for that guidance to materialise, along with a 25bp hike in February 2023, but that view is now challenged. However, it may take more for the Riksbank to switch to the even faster 75bp tightening pace. The Riksbank could opt to evaluate if today's inflation surprise is sustained ahead, and if hard evidence of second-round effects or un-anchoring of inflation expectations surfaces. Stay alert on in-between-meeting-signalling from the Riksbank about altered policy outlook, similar to the communication it deployed ahead of the April meeting"

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