Negative rates working as planned, says Riksbank’s Cecilia Skingsley

Cecilia Skingsley
Cecilia Skingsley. Photo: Riksbank

Negative interest rates in Sweden are working as intended, and there is room to ease policy even further, Sveriges Riksbank deputy governor Cecilia Skingsley said today (September 4).

Speaking at an event in London hosted by Deutsche Bank, Skingsley said the policy of pushing the headline repo rate into negative territory, -0.35% at present, "worked actually rather well".

The monetary transmission mechanism has not broken down as some had feared, and the relationship between the repo rate and ma

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