More hikes ahead - Sweden's Ingves

New Swedish central bank governor, Stefan Ingves, said on Monday 6 February that he expected a continued gradual increase in interest rates. The speech, given at Umea University, was Ingves' first public appearance since his appointment at the start of 2006.

The Riksbank raised policy rates by 25 basis points in January to 1.75%, the first tightening of policy since May 2002. Ingves said January's rate rise was "merely the first step towards less expansionary monetary policy".

Ingves said "mone