Newsquawk Logo

Riksbank Minutes (Mar): Thedeen said "Our starting point with low inflation gives us some respite until we have a clearer picture of the economic consequences of the war..."

Newsquawk StaffPublished
Newsquawk headlinesUTC

Every headline is on the live feed 20 minutes before this site.

Go live — 7 days for $29.99
Go live — 7 days for £24.99
Go live — 7 days for €29.99

ECB's Lagarde says "Small, one-off and short-lived supply shocks can be looked through. But as expected deviations from our inflation target grow larger and more persistent, the case for action becomes stronger."

Iran's Ambassador to Pakistan says there were no talks between the US and Iran, either directly or indirectly, IRNA reports; says "friendly countries" seek to lay the ground for talks, "hopes these efforts can help in ending the war"

Riksbank Minutes (Mar): Thedeen said "Our starting point with low inflation gives us some respite until we have a clearer picture of the economic consequences of the war..."

[MARKET UPDATE] European equity futures continue to see further upside as oil prices pull back following the AP report citing Pakistani officials stating Iran has received the ceasefire proposal; DXY now flat, WTI below USD 87/bbl, FESX +1.6%

UK Business Secretary Kyle is to hold emergency talks with company bosses Wednesday morning about the impact of the Iran war on the UK economy, Sky News reports

On the Newsquawk feed at , 20 minutes before this page.

Use the PlatformFree. No signup, no card.

Jansson

  • "I feel that uncertainty is currently so elevated that I actually find it difficult to identify a clear main scenario among all the possible development paths ahead"
  • "Since our January meeting, we have received two new inflation outcomes, for January and February, and these have only reinforced the picture of Swedish inflationary pressures becoming lower. "
  • "Much of my concern about problematically low inflationary pressures has so far been linked to the recent strong appreciation of the krona."
  • "For now, everyone agrees that a wait-and-see approach is the best strategy."
  • "...have a relatively favourable starting position in that inflationary pressures have now fallen to a low level and the economic recovery already gained traction last year. The fact that we have also lowered the policy rate to what we believe is a mildly expansionary level is also an advantage. This allows us to adjust monetary policy promptly, if necessary, to make it either more expansionary or contractionary."

Seim

  • "I support the interest-rate path described in the draft report but am considerably more concerned that inflation will be too high than that it will be too low"
  • "...given considerable thought to whether we ought to add some probability of a rate increase in the near term to the interest-rate path"
  • "Today's slightly expansionary but close-to-neutral interest rate constitutes a good starting point to, once more reliable signals are available, adjust monetary policy if deemed warranted."

Hjelm

  • "When the measure of inflation that I believe should guide monetary policy in the shorter term is, as it is now, close to 2 per cent within just two to three quarters, I believe the threshold for a different monetary policy should be relatively high."
  • "I believe that both core inflation and measures of resource utilisation will return sufficiently close to normal levels within a reasonable time-frame with the interest-rate path on which the baseline scenario is based"

Bunge

  • "In my opinion, a robust and reasonable monetary policy in these circumstances is to wait for more information"
  • "If the supply shocks can be constrained in time, they will not necessarily require a tighter monetary policy. On the contrary, they may result in inflation closer to the target during the year, precisely because inflation otherwise would have been low."

Thedeen

  • Regarding the Middle East conflict, "Neither fiscal policy nor monetary policy is capable of making these negative effects on the economy disappear."
  • "I see three factors as being central to the shaping of monetary policy in the current situation: the size and cause of the supply shock, its longevity and our assessment of the initial economic situation."
  • "My assessment is that what is happening in the Middle East now is not a temporary supply shock...Given how long the crisis has been under way and the already fairly substantial effects on the energy infrastructure, I fear that lasting repercussions may arise regarding the oil and natural gas supply in the world"
  • "One insight from recent years is that it is risky for a central bank to assume that it is possible to see through supply shocks."
  • Regarding potential stagflationary impacts, "This would mean that monetary policy faces a difficult trade-off."
  • "Our starting point with low inflation gives us some respite until we have a clearer picture of the economic consequences of the war. At present, it is too early to determine how the outlook for inflation and economic activity in Sweden will be affected"

Context

The Riksbank's March minutes reveal a cautious stance as policymakers underscore uncertainty surrounding inflation and economic growth, particularly due to geopolitical tensions. With inflation pressures easing, there's a consensus for a wait-and-see approach, but concerns linger about potential supply shocks impacting energy prices and longer-term inflation outlooks. This indicates that while rates may remain stable for now, the Riksbank is prepared to adjust policy in response to evolving economic conditions, signaling to markets a balance between vigilance and patience.

External

Related headlines

The feed had this first.

Use the Platform
Newsquawk Logo

© 2026 Newsquawk. All rights reserved.