Riksbank Minutes Show High Bar for Bigger Cuts in Key Rate [BNN Bloomberg (Canada)]
SWEDBANK AB S/ADR (SWDBY)
NASDAQ:AMEX Investor Relations:
swedbank.com/investor-relations
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Source: BNN Bloomberg
Most of the five executive board members signaled that more gradual cuts add predictability and better address uncertainty in the current system where rate meetings are more frequent, according to the minutes published on Monday of the monetary-policy meeting held on Aug. 19. Governor Erik Thedeen and his deputies “quite naturally in the prevailing situation,” discussed whether a bigger cut in borrowing costs would be justified, according to his remarks. The central bank last week announced its second quarter-point cut in borrowing costs since May, bringing the benchmark rate down to 3.5% and flagging it may continue to reduce the key interest rate at all of its remaining three meetings this year. The more dovish stance, in line with market expectations, came as inflation has fallen below the policymakers' target and the largest Nordic economy is faltering. “I have considered a cut of 0.5 percentage points at today's meeting, but I feel confident that a 0.25 percentage points i
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