Central Bank Chief: Steady Rate Rises Ahead
New Swedish central bank governor Stefan Ingves, making his first speech since being appointed at the start of 2006, said on Monday he expected a continued gradual increase in interest rates.
The central bank raised its key repo rate by 25 basis points in January to 1.75 percent, the first tightening of policy since May 2002.
Ingves said January’s rate rise was ”merely the first step towards less expansionary monetary policy.”
The crown weakened slightly against the euro and debt yields edged up after his speech.