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Swedish central bank appoints New Deputy Governors

Friday, 02 December 2011
The General Council of the Swedish central bank has appointed Kerstin af Jochnick and Per Jansson as new Executive Board of the Riksbank – the Swedish central bank.

The’ll be succeeding Svante Öberg and Lars Nyberg, who’ll hop on at the end of the year.

Kerstin af Jochnick who will also be the First Deputy Governor is currently CEO of the Swedish Bankers' Association and Per Jansson is working as head of the Riksbank's Monetary Policy Department. af Jochnick is elected to serve for six years and Jansson for five years.
The General Council was unanimous in its decision.

"These two individuals have extensive experience in the financial and macroeconomic areas and therefore well qualified to sit on the Executive Board," the General Council Chairman Johan Gernandt and Vice Chairman Sven-Erik Österberg said in a joint statement.


“These are two people who have extensive experience and knowledge, and also financial market knowledge, which we think is important, given that we have new rules about to enter, and a crisis in Europe that will hang around for long. So there are two very good choices,” said Nordea chief economist Annika Winsth of the two new deputy governors.

However, one can not immediately establish whether they are "hawks" or "doves" in the case of monetary policy, that is, if they advocate a tighter or looser monetary policy. Jansson come from the Riksbank, so he may have more degrees of freedom.

Analysts feel that Kerstin af Jochnick is also a good choice given her knowledge in the banking sector and financial skills. Kerstin af Jochnick view of monetary policy is however unknown, and it is difficult to determine whether she is a hawk or dove, writes Erica Blomgren of the Swedish bank SEB

The outgoing Deputy Governors Svante Öberg and Lars Nyberg both belong to the "hawks" within the General Executive Board, which is currently in the majority.
By Team

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