According to Winsth, the consequences of the war will depend on how long oil and gas supplies from the Persian Gulf are blocked.
The Swedish Central Bank's next interest rate announcement will be on May 7.
The US Federal Reserve (Fed) will release its interest rate decision on Wednesday. No changes are expected in what is expected to be Jerome Powell's last term as Fed chairman.
The European Central Bank (ECB) is also expected to hold off on rate changes at its meeting on Thursday, but many believe the ECB will raise rates in June.
"Nordea assesses that the ECB can raise the key interest rate once or possibly twice without the Swedish Central Bank needing to act, but no more," writes Winsth.
