Riksbank minutes to confirm the hawkish shift in thinking - TDS
Analysts at TDS think that there’s been a slightly more hawkish shift in Riksbank thinking than markets have appreciated, and will be looking for confirmation in the minutes.
“In Sept, we saw more comfort around inflation expectations. And in Oct we saw more comfort with the idea of stronger growth translating into higher inflation. With growing dissent against the FX intervention mandate, we look for a slightly hawkish tone overall.”
“We don’t look for any substantial discussion on whether or not to extend QE until the December meeting (our view remains that we look for no further extension, although it continues to be a close call). Also this morning, Deputy Governor Skingsley gives a speech in Paris at 8:15am GMT.”