STOCKHOLM -Swedish inflation slowed sharply in March, data showed on Friday, nearing the central bank's 2% target and clearing the way for the start of a series of rate cuts, possibly as early as the next policy meeting in May.
"Today's number, the broad interpretation is that we have a good basis for inflation stabilizing," Deputy Governor Anna Breman said in a speech after the data."At the same time, it is always the case ... that a single number is not what decides monetary policy." However, rate-setters are still concerned about a weak Swedish crown, which could take further punishment if rate cuts by European Central Bank and the U.S. Federal Reserve are pushed back.