Riksbank Deputy Governor Bunge says gradual changes allow each step to be assessed

Riksbank Deputy Governor Bunge says gradual changes allow each step to be assessed.

Remarks endorsing gradualism from a deputy governor sit squarely in the standard Riksbank idiom: the institution has historically signalled its preference for measured, step-by-step adjustments rather than abrupt shifts, and commentary of this kind typically functions to reinforce an existing path rather than to alter it. The read-through is about cadence, not direction, and that distinction matters for pricing: it speaks to the spacing between moves at the front of the SEK curve rather than to where the terminal rate sits. As a single board member, the signal carries more weight if it is echoed by colleagues, since the Riksbank's decisions have tended to reflect a broad internal consensus rather than individual voices. Gradualist framing also raises the information content of each subsequent inflation and wage print, since a step-by-step stance makes every meeting genuinely live rather than pre-committed. The tells to watch are whether the same language appears in the minutes and in remarks from the Governor, and whether it is being used to justify continued easing, a pause, or a slower hiking pace, since the same phrase has served all three purposes across past cycles. SEK reaction to remarks of this kind has generally been limited unless they are read as deviating from the priced path.