Swedish central bank's Jansson says rate hike around year-end not good idea

• The Swedish central bank should shelve plans to hike its benchmark rate around the end of the year.
• Jansson pointed to unemployment, below-target inflation, plunging PMI figures and uncertainty over the global economy.

STOCKHOLM: The Swedish central bank should shelve plans to hike its benchmark rate around the end of the year, Riksbank Deputy Governor Per Jansson said on Friday.

"I was already pretty clear (in September) that hiking rates around the end of the year was not a very good idea," Jansson told reporters on the sidelines of a conference.

"I think that developments since then have strengthened that picture."

Jansson pointed to unemployment, below-target inflation, plunging PMI figures and uncertainty over the global economy.

"The whole map is moving in the wrong direction," Jansson said.

At its latest policy meeting in September, the Riksbank kept its benchmark interest rate at -0.25pc but stuck to plans for a hike late this year or early 2020.