Sveriges Riksbank kept its monetary policy on hold following today’s (October 26) meeting of its executive board, as policymakers sought to avoid tipping inflation back below target.

Inflation registered at 2.3% in September, a little above the Swedish central bank’s target. Nevertheless, the Riksbank’s board has stressed the need for policy to remain expansionary to keep price rises at close to 2%. Forecasts published in the accompanying report suggest inflation is likely to be flat at around