Swedish cbank's Jansson: chances of avoiding inflation scenario of 70s and 80s are good
STOCKHOLM, Dec 9 (Reuters) -
Chances are good of avoiding a high-inflation scenario like the one seen in the 1970s and 1980s in Sweden, Swedish central bank Deputy Governor Per Jansson said in a speech on Friday.
"Our challenge today is to prevent the inflation developments of the 1970s and 1980s being repeated through today's high inflation becoming entrenched in the expectations of the economic agents," Jansson said in a speech published on the bank's website.
One reason for the high inflation of the earlier decades was that economic policy at the time did not counteract developments sufficiently well, he said.
"But as things look different today, the conditions for meeting that challenge are good."
During the 1970s and 1980s, annual average inflation in Sweden was 8%, according to the bank.
Reporting by Anna Ringstrom, editing by Terje Solsvik
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