1.11.2023

Someone gets the evil eye

Mr. Stefan Ingves who is the head of our counterpart to the Federal Reserve, Riksbanken, is leaving in the near future after holding the post for 17 years.

The government's mandate to Riksbanken that inflation must not exceed 2% has been fulfilled during 3 of the 204 months that mr Ingves has been head.

During these 17 years, mainly the Social Democrats have been in power in Sweden. The current government took office just over 3 months ago.

When Stefan Ingves announced his resignation, he received harsh criticism for the way he ran Riksbanken during all these years.

On site in Stockholm, 170 international dignitaries are currently participating, including the chief executive of Great Britain's central bank at Riksbanken's international symposium.

It was during a television interview for the American television company CNBC at this ongoing gathering that Mr. Ingves chose to move the issue of the debt from Rikbanken to the government.

Quote: "I have said time and time again that the debt level of Swedish households is far too high and that the doomsday will come when interest rates rise - and now interest rates are rising." unquote.

I myself have been critical of Riksbanken having a zero interest rate during the boom, more than once.


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