Riksbank: hopeful for vaccine dividend
- The Riksbank has announced no monetary policy changes, as expected. However, a relatively hawkish tone is created by GDP growth upgrades. We see downside risk to the more resilient global picture, which relies on a vaccination dividend.- Any sense that the vaccination rollout is delayed or offers limited protection to new and more virulent strains of Covid19 will return us to a scenario where the need for monetary policy stimuli increases.
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