Göran Hjelm: Monetary policy trade-offs and economic policy interactions in the face of supply shocks
What changed vs prior statement
- 01• First indexed statement for this feed — no prior to diff against.
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Speech by Mr Göran Hjelm, Deputy Governor of the Sveriges Riksbank, at the Sveriges Riksbank, Stockholm, 22 May 2026.
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4 itemsErik Thedéen: Monetary policy challenges in war related supply shocks
The desk posits that the ongoing war-related supply shocks are complicating monetary policy decisions, particularly for the Sveriges Riksbank. Per the full note [source], Governor Erik Thedéen highlighted the difficulties central banks face in navigating inflationary pressures exacerbated by geopolitical tensions. This aligns with our view that the Riksbank may need to adopt a more cautious approach to interest rate adjustments, especially as inflation remains stubbornly high. With consensus targets for EUR/SEK reflecting a range of 1.04 to 1.10, the market is keenly watching for any shifts in policy direction that could impact currency valuations.