I owe Mr. Erik Thedéen an apology

I have been quick to judge Sweden's current central bank governor Erik Thedéen. The conditions that his predecessor Stefan Ingves left behind were an almost impossible task to solve, at least in the short term.

Erik Thedéen did what Stefan Ingves should have done several years ago, i.e. raised the Swedish policy rate. Now Erik Thedéen had to do it at the same time that Sweden, together with the rest of the world, was hit by one of the highest inflations in a long time. Although almost anyone, apart from Stefan Ingves, has the backbone to pull the band-aid, it was Erik Thedéen who did it and for that he must be praised.

Many analysts claim that Sweden's central bank will make several reductions in the policy rate during 2024.

The Swedish krona has strengthened against both the US dollar and the euro recently, causing our holdings to lose value. The central bank's eight increases in the policy rate in a row means that our mortgage has become more expensive. Even if Erik Thedéen's actions lead to us personally losing wealth and having increased living costs, I hope that he stands up to the pressure from the media and the market and limits possible interest rate increases to an excessive extent.