off-the-wire

Swedish c.bank chief says inflation too high

Kitco Media
By Reuters
Published:
Updated:
Reuters

OSLO, March 14 (Reuters) - Sweden's central bank governor Erik Thedeen said on Tuesday that inflation is still far too high and that monetary policy needs to act to bring inflation back to 2% within a reasonable period of time.

Thedeen also commented on the ongoing turbulence in the U.S. banking sector following the collapse of SVB Financial Group.

"We are following developments in the financial markets, and we currently consider there to be no risk to financial stability in Sweden," the governor said.

"At the same time, it is not unusual for turbulence in foreign capital markets to spill over into Sweden. We are therefore closely monitoring the situation and, as always, we are prepared to take action in the event of a rapid change."

Reporting by Terje Solsvik, editing by Essi Lehto
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