Governor Stefan Ingves. Photo: Magnus Hjalmarson Neideman
It also means that Nordea now change their assumption if the Riksbank and think that they will cut the policy rate by 10 basis points to -0,60% in October. At the same time the expected QE program to be extended, with 15 billion in the purchase of realobligationer and 15 billion in government bonds.
Previous forecast was an unchanged interest rate and increase with sek 15 billion in realobligationer.
“The main reason for the extra stimulus, we believe that the Riksbank will signal that they will do what they can to get inflation up in preparation for the upcoming round of wage negotiations. The riksbank has been clear that it does not want to inflationstrenden to turn,” writes Nordea in a marknadsbrev.
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