Monetary Policy Report July 2011

Slides:

Advertisements

Similar presentations

Monetary Policy Report February Upturn on more solid ground.

Advertisements

MPU 2010: Figure 01. Repo rate with uncertainty bands Per cent, quarterly averages Source: The Riksbank Note. The uncertainty bands for the repo.

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

Speech at the Swedish Economics Association 22 February 2005.

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.

Monetary Policy Report February Figure 1.1. GDP growth in Sweden and the world Annual percentage change, seasonally-adjusted data Sources: The IMF,

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.

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

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 meeting September Swedish economy developing strongly Cost pressures increasing Financial unrest creates uncertainty View of future.

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.

Monetary policy update April The Swedish economy remains strong.

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.

The current economic situation Swedbank

Monetary Policy Report February 2011

Monetary Policy Report 2008:3

Monetary Policy Report February 2012

Monetary Policy Update December 2011

Monetary Policy Update December 2010

Monetary Policy Update December 2009

Monetary Policy Report 2008:2

Sources: National Mediation Office, Statistics Sweden and the Riksbank

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

Presentation transcript:

Monetary Policy Report July 2011

Stable development in the Swedish economy – despite increased uncertainty globally

Global economic outlook still divided GDP growth, annual percentage change. BRIC refers to Brazil, Russia, India and China, forecast from the IMF. Sources: The IMF and the Riksbank

Considerable uncertainty abroad Interest rates for government bonds with 10 years left to maturity, per cent Source: Reuters EcoWin

Stable krona in the period ahead TCW exchange rate, index, 18 Nov 1992 = 100 Source: The Riksbank

Swedish economy enters slower growth phase Annual percentage change Sources: Statistics Sweden and the Riksbank

Swedish economy will remain stable GDP. Annual percentage change, seasonally-adjusted data. Sources: Statistics Sweden and the Riksbank

Improvement in the labour market continues Unemployment 15–74 age group, percentage of labour force, seasonally adjusted data. Pre-2001 data is spliced by the Riksbank on the basis of unemployment in the 16-64 age group. Sources: Statistics Sweden and the Riksbank

Sources: National Mediation Office and the Riksbank Rising wage increases Annual percentage change Sources: National Mediation Office and the Riksbank

Large differences between measures of inflation Annual percentage change Source: Statistics Sweden and the Riksbank

Expectations in line with forecast Annual percentage change Sources: Statistics Sweden, TNS Sifo Prospera and the Riksbank

Higher interest rate contributes to stable economic development Repo rate, per cent, quarterly averages Source: The Riksbank

A forecast, not a promise Wage-driven inflation Weaker international economic activity Repo rate, per cent, quarterly averages Source: The Riksbank

Stable development in the Swedish economy – despite increased uncertainty globally