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Riksbank remains ready to act – Danske Bank

FXStreet (Edinburgh) - Allan von Mehren, Chief Analyst at Danske Bank, assessed the recent publication of the Riksbank’s minutes following its meeting on October 27.

Key Quotes

“In the minutes Mr Jansson commented that ‘expectations of inflation one and two years ahead have successively increased [...]. As regards more long term inflation expectations, there is now a stronger impression that the downward trend has been stopped [...]”.

“This makes it slightly easier for the Riksbank to 'see through' variations in energy prices and other more temporary effects on inflation in its monetary policy”.

Mr Flodén said that ‘the scope for pursuing a flexible monetary policy, that does not just consider inflation, will be more limited if confidence in the target is weak and inflation expectations are not in line with the target’.

UK unemployment falls to seven year low; wage growth rise slower than expected

The Office for National Statistics (ONS) today released figures which showed UK unemployment rate fell to a seven-year low of 5.3% in the three months to September. It was the lowest jobless rate since the second quarter of 2008. Economists polled by Reuters had expected the rate to hold steady at 5.4 per cent.
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