#Stefan Ingves

[olivereverling]

The Pitfalls of Close Ties: Examining the Nexus Between Central Banks and Rating Agencies

In recent news, the appointment of former governor of the Swedish central bank, Stefan Ingves, to the Honorary Board of the Scope Foundation raises concerns about the potential risks associated with a close relationship between central banks and rating agencies. This development prompts us to explore the intricacies of such connections and their potential implications on financial markets and…

[forexbeginnersworld]

Riksbank Prepared To Act; Price Lower Unlikely, Say...

Riksbank Prepared To Act; Price Lower Unlikely, Say…

[ad_1]

Sweden’s central financial institution is ready to behave as detrimental impact from the unfold of coronavirus on financial exercise is unavoidable, Riksbank Governor Stefan Ingves stated Tuesday.

“Our evaluation proper now’s that sustaining the provision of liquidity is an important factor,” Ingves stated. “This might be extra beneficiant phrases…

[swedeneuropeworld-blog]

Dagens bild IV: Pokerfacet som höjer eller sänker Pokerfacet Stefan Ingves är mannen som höjer eller sänker, ja eller lämnar den oberörd. Makt, pengar och hushållens ekonomi. Är han kanske Sveriges mäktigaste man? Jag tror det faktiskt. M.S

[idigiworld]

Facebook's libra coin is a catalyst for reform, says the head of the Swedish central bank.

The proposed cryptocurrency libra from Facebook served as an opportunity for global central banks to change and represent the digital age, the central bank head of Sweden said.

Stefan Ingves, governor of the Riksbank, told CNBC's Squawk Box Europe on Tuesday that it was an incredibly important catalytic activity to shake the tree when libra emerged out of the blue and that forced us to think hard about what we were doing.

Image source: Skynews

While money use decreases rapidly in Sweden, the Riksbank has been investigating the potential issue of digital currencies. Many of the country's shops don't even take physical notes and coins, with signs being put up by multiple retailers stating they don't let customers pay in cash. The Riksbank is now looking to test this year's so-called "e-krona" currency, which it says could be launched

On Monday, the Libra Association agreed to a charter specifying the structure of the company and naming a board of directors. 

[jkdanu]

Sweden is facing its ‘day of reckoning’ as house prices plummet http://dlvr.it/Sh65gn #BestRealEstateAgentElkGrove #RealEstateAgentElkGrove #RealtorElkGrove http://dlvr.it/Sh65h2 http://dlvr.it/Sh65h4 http://dlvr.it/Sh65h9 http://dlvr.it/Sh65hH

[charles-dailey]

Sweden is facing its ‘day of reckoning’ as house prices plummet

Sweden is facing its ‘day of reckoning’ as house prices plummet

[dreams-in-mist]

Time to move to Sweden, amirite?

[timemattersmetal]

Sweden is facing its ‘day of reckoning’ as house prices plummet

[llchatoff]

Sweden is facing its ‘day of reckoning’ as house prices plummet

This downturn is not surprising given the "dysfunctional" nature of the market, according to Stefan Ingves, the outgoing governor of Sweden's central bank, the Riksbank. http://dlvr.it/Sghjzr

[anderslindberg]

Mellan Kristersson och stupet står Stefan Ingves

https://www.aftonbladet.se/ledare/a/69kpAQ/aftonbladets-ledarsida-mellan-ulf-kristersson-och-stupet-star-stefan-ingves?utm_source=dlvr.it&utm_medium=tumblr

[interestrateuk]

Bank shocks with full percentage point hike

New Post has been published on https://interestrate.co.uk/bank-shocks-with-full-percentage-point-hike/

Bank shocks with full percentage point hike

The Riksbank, Sweden’s central bank, has sent shockwaves across the country this week by increasing interest rates an entire percentage point. This has taken the base rate to 1.75%, and the bank has warned that more rate hikes will come as it struggles to regain control of soaring inflation.

The rate hike, announced on Tuesday, was much bigger than expected. It comes after inflation rose to its highest level in 30 years, hitting 9% in August, surpassing forecasts by the Swedish central bank and in part down to rocketing energy prices. Unfortunately, it means that interest rates will likely continue rising over the coming six months.

The rate hike marks the biggest seen since 1992, when Sweden experienced a national financial crisis. It is also the biggest since the inflation target came into play in 1993.

Reducing inflation risks

Following the announcement of the rate increase, the governor of the Riksbank, Stefan Ingves, spoke to reporters about the central bank’s commitment to bringing inflation under control.

He said: “When rates go up, obviously, interest costs go up for many households, but the costs of high inflation – persistently high inflation – those are, in fact, even bigger. By raising rates now and by continuing to hike rates we reduce the risk that inflation is going to park itself at a high level.”

The rate increase has come as a shock not just for borrowers across Sweden but also for analysts. Following a recent Reuters poll, most economists had predicted a rate hike of 75 basis points. Only two of those polled expected the central bank to increase the base rate by 100 basis points.

The central bank has to take aggressive action to try to control inflation, a move that other central banks are mirroring around the globe. One concern rate-setters have is that soaring prices could lead to demands for higher wages, and this could make it even more challenging to tackle inflation in the longer term.

The Riksbank believes that GDP will shrink by 0.7% in 2023. Still, despite the economic downturn and the risk of a recession, rate increases will continue. Rate-setters had previously predicted the policy rate would peak at 2% early next year, but this has now been amended to a forecast of 2.5% in the second quarter of 2023.

Lars Kristian Feste, head of fixed income at Ohman Group, said: “We … believe the policy rate will be higher than that and we don’t exclude a peak of 3.5% at the end of 2023. The reason is that inflation is not going to come down as fast as in the Riksbank’s forecast of around 2.0% in 2024.”

[criptofanatico]

Banqueros centrales critican el uso de Bitcoin como vehículo especulativo

Stefan Ingves, el gobernador del banco sueco Sweden’s Riksbank comparó el comercio de Bitcoin, la mayor de las criptomonedas, con el intercambio de sellos y que posee un riesgo de colapso. El Salvador adoptó el Bitcoin como moneda de curso legal esta semana, pero no todos se muestran muy entusiastas. Los jefes de los bancos centrales de México y Suecia se encuentran entre los que dudan que esta sea una buena medida.

“Bitcoin representa más a un vehículo de regateo que a una moneda real, declaró este jueves el gobernador del Banco de México Alejandro Díaz de León, de acuerdo con un reporte de Reuters. A lo anterior agregó: “Bitcoin conlleva un alto riesgo y no constituye una manera estable de almacenar valor. Sin embargo, recibir Bitcoin en un exchange por un bien o un servicio es un poco más afín a un trueque, porque esa persona está intercambiando un bien por otro, pero no realmente dinero por un bien”

“En nuestra época la moneda ha evolucionado para ser dinero fiduciario emitido por bancos centrales. Bitcoin se parece más a una dimensión de los metales preciosos que a la moneda de curso legal del día a día” expuso Stefan Ingves, gobernador del Sweden’s Riksbank, este jueves, según un reporte de Bloomberg. Él se mantiene escéptico con respecto a la idea de que exista dinero sin una banca estatal. Además, explicó: “el dinero privado usualmente colapsa tarde o temprano”

El pasado martes, el jefe ejecutivo de JPMorgan Chase, Jamie Dimon, llamó al Bitcoin “un fraude.” A lo que añadió: “Los inversores deberían mantener algo en mente: Bitcoin no es una moneda en el sentido estricto de la palabra, como los banqueros centrales han señalado. El dinero real se usa en transacciones reales, para comprar bienes y servicios. Bitcoin es usado para la especulación. Sus defensores lo llaman un activo valioso, pero sus críticos dicen que su valor solo reside en el hecho de que los especuladores están deseosos de poseerla”

[questlation]

Sweden’s banking chief dismisses Bitcoin as ‘stamp trading’ Stefan Ingves, the governor of Sweden’s ... https://questlation.com/?p=4668&feed_id=132379

[jkdanu]

Sweden is facing its ‘day of reckoning’ as house prices plummet http://dlvr.it/Sh35wF #BestRealEstateAgentElkGrove #RealEstateAgentElkGrove #RealtorElkGrove http://dlvr.it/Sh35wG http://dlvr.it/Sh35wH http://dlvr.it/Sh35wJ http://dlvr.it/Sh35wK

[cryptosnewss]

Bitcoin May Collapse, Swedish Central Bank Warns

Bitcoin May Collapse, Swedish Central Bank Warns

Arman Shirinyan Bitcoin Trading Is Close To Stamp Collecting, Governor Says The Swedish Central Bank compared cryptocurrency and Bitcoin trading to collecting and selling stamps. The governor’s main concern was the inability of digital assets to function and grow further without the support of financial regulators or the government. According to Stefan Ingves, the governor of the Swedish Central…

[madamlaydebug]

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