SWEDEN

摘要

After overtwo years of negative interest rates, the Riksbank hinted at a change of tack in July after eliminating the bias towards a near-term rate cut. This follows similar signals from elsewhere, including the ECB and Bank of England. Still, Swedish rates will unlikely change course until mid-2018, despite sustained economic strength and slightly higher inflation than expected. The CPI rose by 1.7% (y-o-y) in June, identical to May, and our panel expects a 1.6% increase on average in 2017.