Riksbank Sees Scope for More Cuts on Weak Demand, Low Inflation [BNN Bloomberg (Canada)]
SVENSKA HANDELSBK UNS/ADR (SVNLY)
NASDAQ:AMEX Investor Relations:
danskebank.com/investor-relations
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Source: BNN Bloomberg
The central bank last week decided to lower its benchmark rate to 3.25% from 3.5%, a third reduction since starting easing in May. “The economy is currently weak and, as yet, there are few concrete signs of a recovery in household consumption,” Riksbank Governor Erik Thedeen said in the minutes published Tuesday. “Moreover, our target variable, CPIF inflation, was only 1.2% in August. These circumstances could be arguments in favor of faster interest-rate cuts.” The urgency to make policy less restrictive has increased in recent months as the measure of inflation that the Riksbank targets has fallen some way below 2%, at the same time as a nascent economic recovery is faltering. At the September meeting, the Riksbank moved in a more dovish direction, as the world's oldest central bank indicated that it could soon depart from its quarter-point pace of rate cuts to take the benchmark half a percentage point lower in one go. “There was perhaps less discussion of a 50 basis-point
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