Svensson defends publication of rate path
Lars Svensson, the deputy governor of Sweden's Riksbank, said the central bank had decided to publish an interest rate path because it was impossible to forecast inflation and resource allocation without having an assumption for the interest rate path.
"Monetary policy works by affecting expectations about the future interest rate," said Svensson.
"It is the entire interest rate path that is important for future inflation and resource utilisation. The Riksbank has, therefore, come to the
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