Inflation is on the rise. Rising energy prices are pushing up costs, Thedéen notes.
"This is thought-provoking. It's simply that we live in a very uncertain time where we still have disruptions that persist," he says.
At the same time, the Swedish economy is strengthening, which can also lift inflation, according to Thedéen.
Nordea's chief economist Annika Winsth notes that the Swedish Central Bank is now clearer - one or two increases are on the way.
The important thing for households and companies now is that there will most likely be an interest rate increase in November and another after the turn of the year, says Nordea's chief economist Annika Winsth.
The Swedish Central Bank announced on Thursday that the key interest rate would be left unchanged at 1.75 percent. It was the right decision, according to Winsth.
We are not in a hurry. Right now we do not have alarming inflation.
More may come
The likelihood of an interest rate hike later this year has increased, writes the Swedish Central Bank. The reason is that inflation is on the rise.
"If the inflation and economic outlook holds up, interest rate increases are expected to begin this year," the bank writes in a press release.
According to the Swedish Central Bank's new interest rate forecast, the interest rate will be raised once more in the first half of 2027.
"Should there be signs of a stronger and more lasting rise in inflation, the Swedish Central Bank will raise the interest rate at a faster pace than in the current forecast," the bank further states.
Hawk-like
The hawkish message is motivated by increased economic activity and supply shocks from, among other things, the Middle East war, with higher energy prices.
The Swedish Central Bank is moving in the direction of the other central banks. They want to control inflation risks, says Amanda Sundström, interest rate strategist at SEB, referring to the fact that both the European Central Bank (ECB) and the US Federal Reserve (Fed) have raised interest rates in the near future and have signaled that there may be more increases.
