Swedish Riksbank not unanimous in Dec 18 decision to leave repo rate on hold |
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Tue, 08 Jan 2008 09:30
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STOCKHOLM (Thomson Financial) - The Riksbank was not unanimous in its Dec 18 decision to leave the repo rate unchanged at 4.00 pct, according to the minutes of the monetary policy meeting released today.Board member Svante Oeberg entered a reservation against the decision to keep the rate on hold, and wanted to hike it 0.25 percentage points to 4.25 pct.'Mr Oeberg's assessment was that developments in the labour market will be stronger and inflationary pressures higher than in the Monetary Policy Update. Therefore, there will be a greater need to raise the policy rate,' said the minutes.In Oeberg's assessment the economic outlook indicated a relatively high policy rate in 2008, with a gradual cut further ahead if economic developments weakened and inflationary pressures were subdued.hans.chumakonde@thomson.comhc/jlcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Swedish Riksbank leaves repo rate unchanged at 4 pct 