Riksbank was ‘wrong’ to raise rates: Svensson

larssvensson

Lars Svensson, a deputy governor of the Riksbank, on Saturday said the Riksbank was wrong to raise its policy rate in mid-2010 and that it should have instead implemented a more accommodative policy stance similar to that adopted by the Federal Reserve.

In a paper presented to the National Conference of Swedish Economists at Uppsala University, Svensson examined the policy options for the Federal Reserve and the Riksbank during the summer of 2010. Svensson said while both central banks at that

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