Laconic Ingves leaving all the doors open – Swedish Dagbladet

With just over two weeks left until the next scheduled interest rate announcement was Governor Stefan Ingves careful not send any signals. Photo: Magnus Hjalmarsson Neideman

It is an uncertain location for the Riksbank’s interest rate meeting in February. Not least since the two recent inflation figures have been lower than the Riksbank’s own forecast. At the same time, concern about China’s economy gained world markets shaking and in Europe, ECB President Mario Draghi talked about more action in March.

When Stefan Ingves on Monday met the press, he weighed his words dissected.

– We are now making an overall assessment of what is happening in the Swedish economy and what is happening in the outside world.

The uncertainty is reinforced by the Riksbank announced that they are ready to intervene in currency markets, thus sell Swedish kronor to thereby lower the value of the crown.

Stefan Ingves emphasized that the Riksbank has the right to intervene, saying it is part of the monetary policy. But the Governor did not give any details on how interventions could go to.

– The day we intervene, we will tell you about it. I do not tell in advance. Once we have made the assessment that it is time we will talk about it.

Would you advocate currency interventions before cutting the repo rate?

– I have no comments on the current situation. Now we are working our way to the next monetary policy meeting on Feb. 10.

For a week ago was Mervyn King and Marvin Good Friends assessment of the Riksbank published. The evaluation was commissioned by the politicians in the Riksdag Committee on Finance and is the third that occurs during Stefan Ingves time as governor.

– Now, let us think of what is in it, and then we will return with our vision, it will be sometime in early May. In the current situation, I have no special comments.

Is there anything in the report that you think stand out as interesting?

– There are many interesting parts in all Three reports written. Some of the issues to be addressed now is such that we have raised themselves, for example the inflation target and the inflation rate will be measured.

As recently as December, the Deputy Governor Per Jansson a speech entitled “Time changing the inflation target? ” where he discussed the changing metrics to measure inflation.