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Monetary policy update April 2011. The Swedish economy remains strong.

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Presentation on theme: "Monetary policy update April 2011. The Swedish economy remains strong."— Presentation transcript:

1 Monetary policy update April 2011

2 The Swedish economy remains strong

3 Continued strong growth in Sweden Sources Statistics Sweden and the RiksbankGDP, quarterly changes in per cent, calculated as an annual rate, seasonally-adjusted data

4 Strong exports and domestic demand Annual percentage change, seasonally-adjusted dataSources: Statistics Sweden and the Riksbank

5 Labour market situation improving Sources: Statistics Sweden and the RiksbankUnemployment, percentage of the labour force, seasonally-adjusted data

6 Continued strong growth abroad Sources: IMF and the RiksbankGDP, annual percentage change. IMF’s April forecast for Brazil, Russia, India and China (BRIC)

7 Uncertainty in the world economy Natural disaster in Japan Fiscal problems in the euro area Political unease in North Africa and the Middle East

8 High energy and commodity prices Sources: Intercontinental exchange and the RiksbankBrent crude oil, USD per barrel. Forward rates calculated as a 15-day average.

9 Low underlying inflation Sources: Statistics Sweden and the RiksbankAnnual percentage change. The CPIF is the CPI with a fixed mortgage rate.

10 Rising mortgage rates give high CPI inflation Sources: Statistics Sweden and the Riksbank Annual percentage change. The CPIF is the CPI with a fixed mortgage rate.

11 Increasing short-term inflation expectations Annual percentage change. Inflation expectations refer to all participants. Surveys December 2010 and March 2011.. Sources: TNS SIFO Prospera, Statistics Sweden and the Riksbank

12 A forecast not a promise Source: The RiksbankRepo rate, percentage, quarterly averages

13 The Swedish economy remains strong


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