Current weakness of Swedish crown not a problem - central bank's Ingves
Reuters
Published May 03, 2018 11:02
Current weakness of Swedish crown not a problem - central bank's Ingves
STOCKHOLM (Reuters) - The current weakness of the Swedish crown is not a problem and the currency should strengthen at some point, Swedish central bank Governor Stefan Ingves said on Thursday.
"It is reasonable to believe that ... the currency will strengthen at some point and that this (current weakness) is temporary," Ingves said when giving regular testimony to parliament.
"Clearly there is somewhere, some level of the currency which could lead to a problem if the crown strengthened too fast and there is naturally a situation at the other end of the spectrum where there could also be a worry, but we are not at that point today."
Late in April, the Riksbank postponed its plans to start tightening rates until late this year pushing the crown to its weakest level against the euro in nearly 9 years. (EURSEK=)
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Written By: Reuters
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