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The Swedish Economy and Monetary Policy NBP Warsaw 24 May 2012

The Swedish Economy and Monetary Policy NBP Warsaw 24 May 2012. Governor Stefan Ingves. Financial markets fragile. Weak growth in the euro area…. GDP, annual percentage change . Sources: Bureau of Economic Analysis, Eurostat and the Riksbank.

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The Swedish Economy and Monetary Policy NBP Warsaw 24 May 2012

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  1. The Swedish Economy and Monetary PolicyNBP Warsaw24 May 2012 Governor Stefan Ingves

  2. Financial markets fragile

  3. Weak growth in the euro area… GDP, annual percentage change Sources: Bureau of Economic Analysis, Eurostat and the Riksbank

  4. …which dampens Swedish exportsExport market and exports Quarterly changes in per cent, annual rate, seasonally-adjusted data Sources: Statistics Sweden and the Riksbank

  5. Improvement at the start of the year Source: Statistics Sweden Index, 2007 = 100

  6. Some positive signs Source: National Institute of Economic Research Index, mean value = 100, standard deviation = 10

  7. Labour market to deteriorate slightly over the coming year Unemployment, percentage of the labour force, seasonally-adjusted data Sources: Statistics Sweden and the Riksbank

  8. Low inflation Sources: Statistics Sweden and the Riksbank Annual percentage change

  9. Repo rate to remain low Source: The Riksbank Repo rate, per cent, quarterly averages

  10. A forecast, not a promise Source: The Riksbank Repo rate, per cent, quarterly mean values

  11. Household´sdebt Note. The series refers to the Riksbank's own calculations using data from Statistics Sweden. Sources: Statistics Sweden and the Riksbank

  12. Sweden has a large banking sector that is dependent on other countries…Bank assets in relation to GDP Sources: ECB, European Commission, Swiss National Bank and the Riksbank Note. Per cent. Data refer to December 2010.

  13. Swedish banks arede facto Nordic-Baltic Market shareof Swedish banks in Nordic and Baltic countries, late 2009 Finland: 39 % Norway: 16 % Sweden: 75 % Estonia: 81 % Latvia: 53 % Denmark: 15 % Lithuania: 62 % Sources: Official and industry data, Riksbank estimates

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