Riksbank, the Swedish central bank’s Deputy Governor Cecilia Skingsley was out on the wires in the last hour, saying that international cooperation may be difficult in the next crisis.
Key quotes:
“¢ Cannot simply count on other countries to come to the rescue.
“¢ Need to consider the size of FX reverse.
“¢ Longer we are at CPIF target, the less worrying the underlying picture is.
“¢ If we raise rates we won’t be tightening policy but in fact, reducing the expansion.
“¢ We are fairly near to the first rate hike if the economy develops as expected.
“¢ We still see December or February as the options for a rate hike.