Even as Swedish headline inflation surged again in August, with the core rate hitting its highest level since late 1991, the stability of long-term inflation expectations will provide some comfort to the Riksbank. Not enough though for the Bank to hold back on what we think will be a bumper 75bp rate rise next Tuesday. The SNB is likely to follow suit on Thursday, while the Norges Bank is set to hike by “only” 50bp later that same day.
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