Sweden's central bank chief says 2 to 3 more rate cuts this year is a ‘forecast not a promise' [CNBC]
ING Group, N.V. (ING)
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Source: CNBC
“Two or three cuts is a forecast, it's not a promise, and we will adapt monetary policy according to incoming information,” Thedéen told CNBC's Arabile Gumede. The Riksbank announced Thursday it would hold its policy rate at 3.75% at its June meeting, after cutting by 25 basis points in May as it became one of the first major economies to embark on the latest path of monetary easing. It had forecast just two cuts during the second half of the year at its May meeting. “Our inflation forecast is pointing to a good inflation outlook, we're still already now very close to our target and our forecast has pointed to 2% inflation in the coming months and years,” Thedéen said. “Of course, there is uncertainty around that, we got a little bit of a backlash in May, so we want to have a little bit more time until we decide to cut.” Positive signs include cooling inflation expectations, weaker price setting and a “more well-behaved wage setting” than is currently being experienced in t
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