Monetary policy report July 2010. Swedish economy developing strongly.

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Presentation transcript:

Monetary policy report July 2010

Swedish economy developing strongly

…despite fiscal problems in Europe Public financial balance as a percentage of GDP Sources: OECD and the Riksbank

Limited impact on the financial markets Difference between interbank rates and government bond rates (TED spread) Note. The differetial is calculatde as the difference between the three-month interbank rate and three-month treasury bills. Sources: Reuters EcoWin and the Riksbank

The global recovery is continuing GDP, quarterly percentage change calculated as an annual rate, Seasonally-adjusted data Sources: Bureau of Economic Analysis, Eurostat, Statistics Sweden and the Riksbank

Broad upturn in Swedish economy Quartrely percentage change calculated as an annual rate, seasonally adjusted data Source: Statistics Sweden

The upturn is continuing Source: National Institute of Economic Research Net figures

Employment is increasing Net figures Source: National Institute for Economic ResearchNote. Expectations have been moved to the period to which they refer.

Lower unemployment ahead Percentage of the labour force, seasonally-adjusted data Sources: Statistics Sweden and the Riksbank

Inflation in line with target Annual percentage change Sources: Statistics Sweden and the Riksbank

Interest rate increased from low level Per cent, quarterly averages Source: The Riksbank

A forecast, not a promise Higher domestic demand Public finances crisis in the euro area Per oent, quarterly averages Source: The Riksbank

Swedish economy developing strongly