Riksbank Minutes (Mar): No overt mention of preference between May or June for a rate cut among the members

BREMEN

• "My current assessment is that a well-balanced monetary policy is to gradually lower the policy rate, probably starting in May or June. "


• "If the policy rate is contractionary to begin with, monetary policy can be rapidly made more expansionary if inflation falls more than expected. If instead inflation becomes higher than expected, the costs to the real economy of having to raise the policy rate further risk being considerable."


• "The best approach is a gradual and cautious adjustment of monetary policy towards a less contractionary level. "

BUNGE

• "Risks remain also for Swedish   inflation. One clear risk concerns the exchange rate. The Swedish krona has depreciated after a period of stronger development and it is on the whole somewhat weaker than at the time of our previous meeting."


• "My assessment is that it is well-balanced to leave the policy rate unchanged at this meeting, but that the conditions appear good for a cut in May or June"

FLODEN

• "A policy-rate cut can be justified at one of the next monetary policy meetings."


• "My expectation is the reverse, i.e. that the Riksbank’s rate cuts will be smaller and slower when monetary policy moves towards a less contractionary level."


• "a policy-rate cut of 0.25 percentage points should not have a particularly substantial effect"

JANSSON

• "Overall, I considered it not “particularly probable” that such conditions would prevail as early as at today’s meeting and thought therefore that a first cut at the meeting in either May or June was much more realistic."

THEDEEN

• "I said that there were clear signs that we could be on the way into a new monetary policy phase, where it would gradually be possible to ease monetary policy."


• "According to the figure, the policy rate can begin to be cut cautiously with effect from May or June. My assessment at present is that there is some probability of a cut in May, on condition that inflation prospects, including the development of the krona, do not deteriorate significantly."

Via Riksbank

04 Apr 2024 - 08:31- Important- Source: Riksbank