Monetary Policy Report February 2012

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Monetary Policy Report February 2012

Low growth Low inflationary pressures

Weak growth in the euro area GDP, annual percentage change Sources: Bureau of Economic Analysis, Eurostat and the Riksbank

Some stabilisation on the financial markets Interest rate for government bonds with about 10 years left to maturity, percentage points Source: Reuters EcoWin

Swedish exports slowing down Quarterly change in per cent calculated as an annual rate, seasonally-adjusted data. Sources: Statistics Sweden and the Riksbank

Somewhat brighter prospects in the manufacturing sector Purchasing managers’ index in the manufacturing industry, an index over 50 indicates growth Sources: Swedbank and Markit Economics

Slowdown in Swedish growth GDP, quarterly change in per cent calculated as an annual rate, seasonally-adjusted data Sources: Statistics Sweden and the Riksbank

Weaker labour market further ahead Unemployment, percentage of labour force, seasonally-adjusted data Sources: Statistics Sweden and the Riksbank

Low inflationary pressures Annual percentage change Sources: Statistics Sweden and the Riksbank

Continued low interest rate Per cent, quarterly averages Source: The Riksbank

A forecast, not a promise Concern over public finances eases sooner than expected Problems in the euro area increase Repo rate, per cent, quarterly averages Source: The Riksbank

Low growth Low inflationary pressures

Real repo rate Per cent, quarterly averages Source: The Riksbank

Interest rates for new agreements for households with various fixed-interest periods Per cent Sources: Statistics Sweden and the Riksbank