Riksbank: Developments since April mainly positive – Jansson
2015-07-15 10:18
(SIX) Jansson summarized the evolution of inflation and inflation expectations since the Monetary Policy Report in April which essentially positive, suggesting that the Riksbank's expansive monetary policy works as intended. He stressed at the same time regards this development continues and is not broken. The minutes from the latest monetary policy meeting 1/7. Jansson said that the krona since Monetary Policy Report in April illustrate that there is a risk for the krona appreciates more than expected, although the crisis in Greece do not deteriorate further. Given that the US economy recently re developed quite well and the conditions for the Federal Reserve to gently to begin raising its key interest rate thus improved, it is perhaps especially krona against the dollar as a surprise, he reasoned further. Judging by different statements made by employers' organizations is now a risk that the inflation target do not become the basis for the next round of bargaining, even if inflation is not affected by such negative circumstances, noted Jansson. Jansson has difficulty understanding why this needs to happen now that Riksbank's monetary policy is so clearly focused on quickly inflation to rise. That many continue to tunnel vision and the moment low CPI inflation, obviously makes it even better, he pointed out. CPIF inflation, which now amounts to about 1 percent, and CPIF inflation excluding energy prices, which for the moment is around 1.5 percent, is in the context much better measure of inflation to start from than the current CPI inflation, according to Jansson. Jansson also said that there is also a tendency in this debate to overstate the competitiveness problems of recent years unexpectedly rapid real wage increases and weak productivity growth has caused. Anton Wilén, +46 8 5861 6441 mailto: anton.wilen@six-group.se www.blogg.six.seSIXNews SIX News
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