will be slightly more unutilised resources in the swedish economy in the coming years than we had previously assumed. our forecast of resource utilisation in sweden has also been affected by the revisions statistics sweden recently made to the national accounts. these indicate that productivity growth in the economy was higher than estimated during the greater part of the 1990s. this in turn indicates that the economy's long - term potential growth rate may be slightly higher. to summarise, i can conclude that the pictures of economic activity in sweden and in the rest of the world are similar to the extent that there appear to be some unutilised resources and that growth will not exceed its long - term potential over the coming years. developments are currently being restrained by the unease over iraq. there is also still great uncertainty regarding the size of the adaptations that remain after the earlier rises in share prices and other asset prices. some figures indicate that most of the adjustments have now been made, but the picture is not unambiguous. nevertheless, a recovery is under way, after what must be regarded in many areas, and particularly in sweden, as a fairly mild slowdown. our forecasts indicate an average gdp growth over the coming years in line with the economy's long - term sustainable rate and resource utilisation is expected to remain largely unchanged over this period. this means that economic activity and the labour market are not expected to put any great pressure on prices and wages at present or in the coming years. there is, of course, a risk that developments will follow completely different paths than those we anticipate in our main scenario. this could in turn entail both upside and downside risks for inflation. the downside risk that concerns us most is connected to international developments. there are problems in the euro area in particular that could lead to a weaker development. the upside risks are mainly linked to domestic price - setting and wage formation. the rise in energy prices pushes up costs in other parts of the economy and can spread. it could also affect expectations and wage demands. we are facing collective wage bargaining rounds in the autumn, which will play a decisive role for the future of the economy. all in all, we have come to the assessment that the risk spectrum is neutral ; we see equally large risks for a lower inflation path than in our main scenario as for a higher path. repo rate lowered 0. 25 percentage points the riksbank's total assessment is that inflation measured at the rate

of the premier league with the maradonna law of interest rates. then we moved into the domain of advanced science with einstein ’ s law of success. we came down to the nitty - gritty business of banking with sutton ’ s law on why he robbed banks. “ because that ’ s where the money is ”, he explained with irrefutable logic. tonight, we make a foray in the world of linguistics. there are very important developments there which can change forever our view of bankers. for a profession that has done so much for the world as we know it, both good and bad – and perhaps also very bad, the view is gaining ground that the orthography of the word “ banker ” does not do full justice to the complexity of the profession. to prevent “ banker ” from being confused with a four - letter word, i understand that a proposal has been made simultaneously to the editors of webster ’ s and the oxford english dictionary in the uk, the guardians of linguistic orthodoxy, to accept an alternative spelling. henceforth, “ banker ” will be spelt “ b - a - n - k - s - t - e - r ” … to rime with gangster. maybe the ceo ’ s which our distinguished visitor, governor sanusi, had locked up were this new breed of bankers, spelt with eight letters. this inspires me to move an amendment to sutton ’ s law to update it to fit the times : if you want to rob banks, make sure you do it before they rob you. and so i ask you all to be upstanding, as i propose a toast to vision 2030, to our distinguished visitor, and to all of you, the economic operators of mauritius. bis central bankers ’ speeches