September 21, 2017 / 7:58 AM / in 9 months

Swedish cbank chief says not time to change policy direction- Minutes

STOCKHOLM, Sept 21 (Reuters) - It is too early to tighten policy in Sweden because the recent uptick in inflation is fragile and dependent on what other central banks do, Riksbank rate-setters said in the minutes of the latest monetary policy meeting, published on Thursday.

“Inflation and inflation expectations need a more permanent ‘foothold’ than they have at present, and, with the history we have behind us, a rate of inflation above target for a while would not be such a great problem,” the minutes quoted central bank Governor Stefan Ingves saying.

The Riksbank kept its ultra-dovish monetary policy unchanged at the latest rate announcement on Sept. 7, despite price rises being around or above the 2 percent target for most of this year.

Reporting by Johan Ahlander; Editing by Simon Johnson

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