Minutes of the Executive Board’s monetary policy meeting on 30 June 2010
At its monetary policy meeting on 30 June the Executive Board of the Riksbank decided to raise the repo rate by 0.25 percentage points to 0.5 per cent. The assessment was made that the Swedish economy is developing strongly following the severe downturn. At the same time, economic growth abroad is expected to be lower, which means that the repo rate in the longer term will not need to be raised as much as was previously assumed. The repo rate now needs to be raised gradually towards more normal levels to attain the inflation target of 2 per cent and to ensure stable growth in the real economy.
Deputy Governor Karolina Ekholm entered a reservation against the decision to raise the repo rate. She advocated a repo rate path with an unchanged repo rate of 0.25 per cent until September, followed by successive increases in accordance with the profile presented in the Monetary Policy Report.
Deputy Governor Lars E.O. Svensson entered a reservation against the repo rate path and advocated a repo rate path with a repo rate of 0.25 per cent through the fourth quarter of 2010, and thereafter a gradual return to the repo rate path of the main scenario.
You can read the full minutes of the monetary policy meeting held on 30 June in the attached PDF file.
