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Monetary Policy Report October 2012

Monetary Policy Report October 2012. Low repo rate stimulates the Swedish economy. Financial markets fairly calm…. Source: Reuters EcoWin. Government bonds with approximately 10 years left to maturity, per cent. …but there is still a long way to go. Underlying structural problems

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Monetary Policy Report October 2012

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  1. Monetary Policy Report October 2012

  2. Low repo rate stimulates the Swedish economy

  3. Financial markets fairly calm… Source: Reuters EcoWin Government bonds with approximately 10 years left to maturity, per cent

  4. …but there is still a long way to go • Underlying structural problems • Problems in European banks • Political decisions remain • At EU level • At national level

  5. Slow recovery in the euro area Sources: Bureau ofEconomicAnalysis, Eurostat, IMF and the Riksbank GDP, annualpercentagechange

  6. Weak demand for Swedish exports Sources: Statistics Sweden and the Riksbank Annual percentage change, calendar-adjusted data. The export market aims to measure demand for imports in the countries to which Sweden exports. This is calculated by aggregating the imports of 32 countries and covers around 85 per cent of the Swedish export market.

  7. Households consuming at a relatively good pace Sources: Statistics Sweden and the Riksbank Annual percentage change

  8. Swedish economy slowing down Sources: Statistics Sweden and the Riksbank GDP, quarterlychanges in per cent calculated in annualised terms, seasonally-adjusted data

  9. Unemployment rising slightly Unemployment, per cent of the labour force, aged 15-74, seasonally-adjusted data Sources: Statistics Sweden and the Riksbank

  10. Low but rising inflation Sources: Statistics Sweden and the Riksbank Annualpercentagechange. CPIF is the CPI with a fixedmortgage rate.

  11. Low repo rate stimulates the economy Repo rate, per cent, quarterly averages Source: The Riksbank

  12. Forecast, not a promise Stronger demand in Sweden Problems in the euro area worsen Repo rate, per cent, quarterly averages Source: The Riksbank

  13. Low repo rate stimulates the Swedish economy

  14. Extra

  15. Competition-weighted nominal exchange rate, TCW and KIX Source: The Riksbank Index, 18 November 1992 = 100. TCW and KIX refers to different aggregates of currencies on the basis of trading patterns. KIX weights are updated regularly and cover a larger group of countries. Outcome data are daily rates and forecasts are quarterly averages.

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