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Analysts at TD Securities explain that the minutes from the Riksbank’s recent meeting showed that timing of the first hike all comes down to Governor Ingves.

Key Quotes

“Most of the other members of the Executive Board stuck to their scripts, with Ohlsson wanting a hike immediately, Floden pushing for an October hike, and af Jochnick and Jansson remaining very dovish.”

“Skingsley’s comments in the minutes imply that she’s more comfortable with a Dec hike than a Feb hike, but even her coming on board for a hike with the others unchanged would lead to a 3-3 tie, as Ingves casts the deciding vote under those circumstances.”

Expert score

5

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