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Swedish central bank changes inflation forecast.

NORDIC BUSINESS REPORT-27 March 2001-Swedish central bank changes inflation forecast(C)1994-2001 M2 COMMUNICATIONS LTD http://www.m2.com

Sweden's central bank, the Riksbank, has said it would be leaving its key repo rate unchanged at 4.00% and signalled that rates would remain on hold or maybe fall in the next few months.

In its quarterly inflation report, the Riksbank forecast headline consumer price inflation of 1.9% year-on-year over the next 12 months, compared with a forecast of 1.8% in its previous report. The bank saw consumer prices increasing 2.0% in two years, compared with a 2.1% forecast in December.

The bank forecast underlying inflation measured by the UND1X gauge to increase by 1.9% in one year and also 1.9% in two years, compared to a December forecast of 1.8% in one year and 1.9% in two years.

The Riksbank also cut its forecast for Swedish gross domestic product growth to 2.4% this year and 2.4% in 2002, compared to the previous 3.4% and 2.9% respectively.

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Title Annotation:Riksbank issues forecasts for consumer price inflation, consumer prices, gross domestic product growth
Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EUSW
Date:Mar 27, 2001
Words:191
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