Separate minute of the Executive Board meeting on July 1

No. 16

Present:

Urban Bäckström, Chairman
Eva Srejber
Villy Bergström
Lars Nyberg
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Johan Gernandt, Vice Chairman of the Governing Council
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Richard Gröttheim
Björn Hasselgren
Ann-Kristin Johnsson
Staffan Viotti
Robert Sparve
Annica Svensson
Åsa Sydén

§ 2. The Riksbank’s repo rate

Richard Gröttheim, Head of Monetary and Exchange Rate Policy Department, stated that the assessment of economic and financial developments in Sweden and elsewhere, the view of inflation prospects and the appraisal of the situation for monetary policy did not currently call for a change in the repo rate.

The next meeting of the Executive Board will take place on August 12, 1999.

He therefore proposed the announcement of six consecutive fixed-rate repos, each with a duration of one week, at an unchanged rate of 2.90 per cent. The proposed duration of each repo was as follows:

7-14 July 1999,
14-21 July 1999,
21-28 July 1999,
28 July-4 August 1999,
4-11 August 1999,
11-18 August 1999.

The Executive Board decided in accordance with the proposal.

This minute was immediately confirmed.