Transition and adjustment in changing times
What changed vs prior statement
- 01No material change in policy stance vs prior statement.
- 02Language essentially preserved across key discussions on economic conditions and forecasts.
- 03Vote split: No vote-record change.
From the original
Speech by Mr Erik Thedéen, Governor of the Sveriges Riksbank, at the Central Bank of Ireland, Dublin, 18 September 2026.
Related speeches
4 itemsErik Thedéen: Vulnerabilities and resilience in a new world order
The desk interprets Erik Thedéen's recent address as a pivotal moment highlighting the need for resilience in the face of a shifting global economic landscape. Per the full note [source], Thedéen emphasizes the vulnerabilities exposed by recent geopolitical tensions and the necessity for strategic investments in competitiveness and security. This aligns with our view that the SEK will face upward pressure as Sweden positions itself as a stable investment destination amidst global uncertainties. The consensus target for the SEK against the EUR is currently set at 1.075, with a range reflecting varying outlooks among major banks.
Erik 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.