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4 months ago
UPDATE 1-Swedish inflation fell back more than expected, crown weakens
April 11, 2017 / 8:25 AM / 4 months ago

UPDATE 1-Swedish inflation fell back more than expected, crown weakens

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 (Adds detail, background)
    HELSINKI, April 11 (Reuters) - Swedish inflation slowed more
than expected in March, weakening the crown           and
bolstering views that the central bank would stick to its
ultra-loose policy of negative rates and a hefty bond-buying
programme.
    Consumer prices rose 1.3 percent in March from a year ago,
less than the 1.5 percent expected by analysts in a Reuters
poll, data showed.
    Underlying inflation (CPIF), which excludes the effect of
interest rate changes in mortgages, came in at 1.5 percent
year-on-year, less that the 1.7 percent forecast. Both measures
were unchanged month-on-month.
    The central bank has said the economy is doing well, but the
risk of a setback had increased due to political uncertainty
abroad, and rates would more likely be cut than raised in the
near term.             
    In February, underlying annual inflation hit the central
bank's 2 percent target for the first time since December 2010.
            
    But the central bank does not expect inflation to stabilise
around 2 percent until late in 2018, and has said it does not
plan to raise rates before the start of next year.

 (Reporting by Tuomas Forsell and Simon Johnson; Editing by
Jussi Rosendahl and Andrew Heavens)
  

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