Riksbank minutes show MPC split on rate hold

larssvensson

Two members of the six-person Sveriges Riksbank monetary policy committee (MPC) wanted the the Swedish repo rate immediately lowered from 1.5% to 1% on April 17, according to minutes of the latest MPC meeting released today (May 3). The dissenters were deputy governors Karolina Ekholm and Lars Svensson.

Ekholm and Svensson both cited the low growth rate (anticipated to be 0.4% for 2012) and the high unemployment forecast (7.5% for 2012) in Sweden as the reason for their decision.

Svensson said

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