Thedéen criticizes big banks over
Photo: Lars Schröder/TT

Thedéen criticizes big banks over savings interest rates

Riksbank Governor Erik Thedéen believes the major banks are hypocritical when they raise variable mortgage rates but leave savings rates unchanged.

"You can't say one moment that we follow market interest rates and then forget that you didn't do the other part. There needs to be some order here," he says in SVT's 30 minuter.

There is nothing strange about profit-maximizing banks, but if you follow their reasoning, the savings rate should also be raised, says Thedéen.

I am critical of this because I think the rhetoric is inconsistent.

The Governor of the Swedish Central Bank believes that this affects confidence in the banks.

Yes, that's hardly something that strengthens trust, he says.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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