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Swedish cbank will act forcefully on inflation, Governor Ingves says

Published 01/09/2022, 15:41
Updated 01/09/2022, 15:47
© Reuters. FILE PHOTO: The sign for Sweden's central bank is pictured in Stockholm, Sweden, August 12, 2016. REUTERS/Violette Goarant

© Reuters. FILE PHOTO: The sign for Sweden's central bank is pictured in Stockholm, Sweden, August 12, 2016. REUTERS/Violette Goarant

STOCKHOLM (Reuters) - Inflation is "way too high" in Sweden and the central bank will act forcefully to bring it back down to the 2% target, Riksbank Governor Stefan Ingves said on Thursday.

"Given that we are so far off the mark, you have to do what you have to do," Ingves said during a presentation.

© Reuters. FILE PHOTO: The sign for Sweden's central bank is pictured in Stockholm, Sweden, August 12, 2016. REUTERS/Violette Goarant

"We are beyond small steps."

The Riksbank has hiked twice this year, most recently by a half percentage point and is widely expected to hike again on September 20 and at the next meeting in November.

 

 

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