Erik Thedéen in Visby on the economic situation and monetary policy

“At the interest rate meeting in August, I noted that the upturn in economic activity is now on firmer ground. This picture is confirmed by last week’s GDP growth figures and the Economic Tendency Survey, both of which are showing more positive signs.”

Mr Thedéen also reiterated his assessment of the inflation outlook: “During the summer, inflation has been higher than the Riksbank's forecast in June, and there is uncertainty regarding what effect different supply shocks will have on consumer prices. So far we do not see any clear signs of a lasting, broad upturn in inflation, but we must have a high level of vigilance with regard to rising inflation.”

However, Mr Thedéen said that the risks surrounding inflation are not clear-cut. “There is spare capacity in the labour market, and it may therefore be the case that economic growth picks up without inflationary pressures rising significantly in the near term.” 

“Ahead of the next interest rate meeting in Gothenburg in three weeks’ time, we will weigh up all the latest statistics and information and assess how they affect the outlook for inflation and the economy, as well as monetary policy.”