One does not need to be Nostradamus to see that Martin Flodén will espouse stepping up the pace of monetary tightening when the Executive Board of the Riksbank convenes again, in September. While our existing view that the Bank will make an unscheduled rate rise in August looks set to be proved incorrect, we still expect a cumulative 125bp of tightening between now and the end of the year, with 75bp and 50bp hikes in the September and November policy meetings respectively.
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