Riksbank meeting minutes

• Minutes-Swedish C. Bank Statement: The uncertainty over the inflation outlook motivated a continued gradual adjustment of monetary policy
• Minutes-Swedish C. Bank’s Seim: Share in the assessment that the policy rate can be cut another two or three times this year.
• Minutes-Swedish C. Bank Statement: If the outlook for inflation stays the same, the policy rate can be cut two or three more times during the second half of the year, which is somewhat faster than was forecast in June
• Minutes-Swedish C. Bank Statement: Riksbank’s asset holdings will continue to decrease through maturities and the sales of government bonds decided on in January.
• Minutes-Swedish C. Bank’s Breman: I support the proposal to cut the policy rate and the forecast that the policy rate can be cut a further two or three times before the end of the year
• Minutes-Swedish C. Bank’s Breman: If the outlook for inflation changes, monetary policy will be adjusted
• Minutes-Swedish C. Bank’s Thedeen: I see it as more likely that we will be able to make three – rather than two – full rate cuts so that the policy rate amounts to 2.75 percent after the December meeting.
• Minutes-Swedish C.Bank’s Jansson: There is no doubt of the direction the interest rate needs to take going forward, but I still think that there are factors supporting a cautious approach.
• Minutes-Swedish C.Bank’s Bunge: If the inflation outlook still stands, we ought to be able to cut the policy rate 2-3 more times in the autumn.
• Minutes-Swedish C. Bank’s Breman: I have considered a cut of 0.5 percentage points at today’s meeting, but I feel confident that a 0.25 percentage points is a well-balanced monetary policy.
• Minutes-Swedish C. Bank’s Breman: Unlike the situation in 2022, the Riksbank now has eight monetary policy meetings a year instead of five. This reduces the need to make cuts in larger steps.
• Minutes-Swedish C. Bank’s Breman: At present there are currently several advantages in gradually adjusting monetary policy
• Minutes-Swedish C. Bank’s Breman: If new information clearly changes the inflation outlook, we need to be able to make different decisions than those indicated by the interest rate path.

This article was written by Arno V Venter at www.forexlive.com.