The current economic situation Swedbank

Slides:

Advertisements

Similar presentations

Monetary Policy Report February Upturn on more solid ground.

Advertisements

Monetary policy and financial stability Counteracting the effects of the global financial crisis Riksdag Committee on Finance, 13 November 2008 Governor.

Figure 1.GDP and an example of potential GDP , SEK million Sources: Statistics Sweden and the Riksbank.

Weak international public finances and Swedish monetary policy Deputy Governor Karolina Ekholm.

Monetary Policy Update April Lower repo rate necessary to subdue the fall in production and employment and to attain the inflation target of two.

The current economic situation Jönköping March 2009 Deputy Governor Svante Öberg.

Governor Stefan Ingves Introduction on monetary policy Riksdag Committee on Finance 18 September 2012.

Governor Stefan Ingves The Swedish Economy and Monetary Policy NBP Warsaw 24 May 2012.

Monetary Policy Update December Repo rate cut to 2 per cent Repo rate expected to remain at same level during 2009 A large interest rate cut is.

Public finances and monetary policy First Deputy Governor Svante Öberg SACO 26 April 2010.

MPR July Figure Growth in the world and in Sweden Annual percentage change, seasonally adjusted data Sources: IMF, Statistics Sweden and.

Riksbank Governor Stefan Ingves Introduction on monetary policy Riksdag Committee on Finance 23 February 2012.

Monetary Policy Report July Unease in Europe casts a shadow over the Swedish economy.

Monetary Policy Report October Figure 1.1. GDP in different regions Annual percentage change Sources: Bureau of Economic Analysis, Eurostat, National.

Material for assessing monetary policy

Introduction on monetary policy Riksdag Committee on Finance, 15 November 2007 Governor Stefan Ingves.

The economic situation KOMMEK August Deputy Governor Svante Öberg.

Monetary Policy Report July Figure 1.1. GDP in different regions Annual percentage change Sources: Bureau of Economic Analysis, Eurostat and the.

MPU April Figure 1. Repo rate with uncertainty bands Per cent, quarterly averages Source: The Riksbank Note. The uncertainty interval does not take.

MPU September Figures Figure 1. Repo rate with uncertainty bands Per cent, quarterly averages Source: The Riksbank Note. The uncertainty.

PPR 2008: Figure 1. Repo rate with uncertainty bonds Per cent, quarterly averages Source: The Riksbank.

MPR October Figure 1.1. Repo rate Per cent, quarterly averages Source: The Riksbank Note. Broken lines represent the Riksbank’s forecast.

MPR 2009 February Figure 1. Repo rate with uncertainty bands Per cent, quarterly averages Source: The Riksbank.

Monetary Policy Update April Lower repo rate necessary to subdue the fall in production and employment and to attain the inflation target of two.

MPR February Revised Due to errors in three figures (1:10, 1:17 and 2:12), which have now been corrected in the report, we.

MPR 2008: Repo rate with uncertainty bands Per cent, quarterly averages Source: The Riksbank.

Monetary Policy Update April Figure 1. Repo rate with uncertainty bands Per cent, quarterly averages Source: The Riksbank Note. The uncertainty.

Swedish experiences of monetary policy with an inflation target Governor Stefan Ingves.

Material for assessing monetary policy Figure Difference between interbank rates and government bond rates (TED spread) Basis points Sources:

MPR 2010: Figure World GDP Annual percentage change Sources: IMF and the Riksbank Note. Striped bars represent the Riksbank’s forecast.

MPR 2008: Figure 1. Repo rate with uncertainty bands Per cent, quarterly averages Source: The Riksbank.

Material for assessing monetary policy Figure 2.1. Commodity prices Index 2005 = 100, USD and USD per barrel Sources: The Economist and Intercontinental.

MPR February Figure 1.1. Repo rate Per cent, quarterly averages Source: The Riksbank Note. The uncertainty band does not take into account the.

My view of monetary policy Handelsbanken, March 18 th 2011 First Deputy Governor Svante Öberg.

Monetary Policy Report October GDP growth in Sweden and the world Annual percentage change, seasonally-adjusted data Sources: The IMF, Statistics.

Monetary Policy Report October The recovery will take time.

Governor Stefan Ingves Introduction on monetary policy Riksdag Committee on Finance 3 March 2011.

Material for assessing monetary policy February 2008.

Monetary Policy Report October Low repo rate stimulates the Swedish economy.

Monetary Policy Report July Deep economic downturn Repo rate cut to 0.25 per cent Low repo rate over a long time Inflation close to target Signs.

Monetary policy decision October The repo rate is raised by 0.25 percentage points to 4 per cent The interest rate will need to be raised slightly.

The Riksbank’s forecasting performance Deputy Governor Svante Öberg.

Monetary Policy Update 2008:2. Repo rate raised to 4.75 per cent Repo rate will remain at same level during the year It may be necessary to reduce the.

Monetary policy report July Swedish economy developing strongly.

Monetary Policy Update 2008:1 23 April Repo rate held unchanged at 4.25 per cent. The repo rate is expected to remain unchanged during the remainder.

Monetary Policy Report 2008:1

Barbro Wickman-Parak, 3 October 2007

1. The functioning of the financial markets is continuing to improve TED spread, basis points Note. TED spread is calculated as the difference between.

Potential GDP, resource utilisation and monetary policy Grand Hotel, Saltsjöbaden 7 October 2010 First Deputy Governor of the Riksbank Svante Öberg.

Monetary Policy Report February 2011

Monetary Policy Report 2008:3

Monetary Policy Report February 2012

Monetary Policy Report July 2011

Monetary Policy Update December 2011

Monetary Policy Update December 2010

Monetary Policy Update December 2009

Monetary Policy Report 2008:2

Monetary Policy Update April 2012

Monetary Policy Update September 2011

Monetary Policy Update September 2012

1. Financial markets functioning better Basis spread, basis points

Wage formation and monetary policy

Figure 1: Inflation Annual percentage change

Presentation transcript:

The current economic situation Swedbank 2010-08-20 First Deputy Governor Svante Öberg

Global GDP growth Annual percentage change Note. Striped bars represent the Riksbank’s forecast. Sources: IMF and the Riksbank

GDP growth in the BRIC countries Annual percentage change Note. 2010 and 2011: IMF forecasts from July. Source: IMF

GDP growth in the USA Annual percentage change Sources: IMF and the Riksbank

Purchasing managers’ index Index figure above 50 indicates growth Sources: Institute for Supply Management, Markit Economics and Swedbank

Inflation in the USA Annual percentage change Source: Bureau of Labor Statistics

Central banks’ balance sheets Per cent of GDP Sources: Bureau of Economic Analysis, Eurostat, Statistics Sweden and the respective central banks

GDP growth in the euro area Annual percentage change Sources: IMF and the Riksbank

Inflation in the euro area Annual percentage change Source: Eurostat

Public finances in the OECD-area Per cent of GDP Source: OECD

Interest rate differential against Germany Percentage points Note. 10-year Government bonds Source: Reuters EcoWin

Sources: Reuters EcoWin and the Riksbank Basis spread Difference between the interbank rate and the expected policy rate Basis points Sources: Reuters EcoWin and the Riksbank

CDS premiums for the banks Source: Reuters EcoWin

GDP growth Annual percentage change Source: Statistics Sweden

GDP per quarter Quarterly percentage change, seasonally adjusted Source: Statistics Sweden

Economic Tendency Survey Index, average = 100, standard deviation = 10 Source: National Institute of Economic Research

Purchasing managers’ index Index above 50 indicates growth Sources: Institute for Supply Management, Markit Economics and Swedbank

Source: Statistics Sweden Industrial and services production Index, 2005 = 100, seasonally-adjusted data Source: Statistics Sweden

Labour and employment Thousand persons,15-74 years, seasonally-adjusted data Sources: Statistics Sweden and the Riksbank

Sources: Statistics Sweden and the Riksbank Unemployment Per cent of the labour force, 15-74 years, seasonally-adjusted data Sources: Statistics Sweden and the Riksbank

Inflation Annual percentage change Sources: Statistics Sweden and the Riksbank

Sources: TNS SIFO Prospera and Statistics Sweden Inflation and inflation expectations Annual percentage change, all agents Sources: TNS SIFO Prospera and Statistics Sweden

Repo rate Per cent, daily data respectively quarterly averages Note. Broken lines represent the Riksbank’s forecasts. Source: The Riksbank

Repo rate and expected repo rate Per cent, all agents Sources: TNS SIFO Prospera and the Riksbank

Monetary policy expectations Per cent, money market participants Sources: TNS SIFO Prospera, Reuters EcoWin and the Riksbank

The Riksbank’s outstanding loans SEK billion Source: the Riksbank