The elephant-based metaphor used by Governor Ingves this week to describe how the ECB’s actions affect the Riksbank was particularly well judged given the increasing chance that Swedish and euro-zone policymakers will deliver mammoth 50bp rate hikes over the coming months. It will be another very quiet week on the data front next week. Riksbank Deputy Governor Anna Breman is due to participate in a panel discussion on the growing role of the financial sector in the climate transition on Tuesday but we would be surprised if she resisted using the platform to deliver a hawkish policy message.
ECB Drop-In (24th May 10:00 ET/15:00 BST): Could the ECB deliver a hawkish surprise? Join economists from our Europe and Markets teams for a discussion about what to expect from the Bank’s tightening cycle, including the chances for a bumper hike in July or even an early move at next month’s meeting. Register now.
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