Sweden: NIER calling the Riksbank’s hand |
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The National Institute for Economic Research (NIER) today published the consumer confidence index, the business confidence index and also its new forecasts for the Swedish economy up and until 2010. The short version is bullish on interest rates: confidence is down on most accounts, inflation expectations are plummeting, the labour market outlook is deteriorating, and the NIER forecasts support our view of the need for lower rates. First, on the subject of confidence, we are not a great fan of
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