Riksbank doves defeated on rate cuts despite broad support for easing, minutes show

Board members disagreed over the danger posed by high household debt in Sweden, ultimately voting to keep rates on hold, according to the minutes of the Riksbank's latest monetary policy meeting, published today.

The minutes showed that Lars Svensson and Karolina Ekholm, who backed cuts of 50 basis points and 25bp respectively, were defeated in the final vote by the four other members, who raised concerns that high debt could worsen Sweden's already high unemployment, even though they "agreed