Swedish Central Bankers Warn That More Rate Hikes May Be Needed

Policy makers at Sweden’s Riksbank acknowledged that their current plans to curb inflation may not be enough after having pledged to do what it takes to rein in price hikes.

At its meeting at the end of last month, Sweden’s central bank raised its key rate by a half point to 0.75% and said it will reach almost 2% by the beginning of next year. Governor Stefan Ingves still remained unconvinced that the move, which aligned the Riksbank with the heightened urgency of global counterparts, would suffice to curb price increases, the minutes from the meeting showed on Monday.