Monetary Policy Boosts Swedish Economy

Swedish central bank’s ultra-loose monetary policy has been positive for the Swedish economy, central bank deputy governor, Henry Ohlsson, said late Friday, Reuters reported. “Without the expansionary monetary policy, growth and employment would have been lower and unemployment would have been higher,” Ohlsson said in a speech. He also said that overall resource utilization in the Swedish economy has now passed normal levels and can be expected to rise even higher in the coming years. At its latest policy meeting in February, the Riksbank held rates unchanged at -0.50% and retained its view that more cuts could come.