Monday, February 18, 2008

Danske Bank is hard on Swedish central bank

Good analysis of economic policy:
For the third time in less than a year, the [Swedish] Riksbank has completely acted against market expectations. One conclusion, and probably the most obvious, is that either market analysts as a group (and ourselves included) have gone bananas and are not fit for our tasks. The other, and hopefully more correct explanation is that the Riksbank’s communication policy is a complete failure.

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