speech date : 23 may 2024 speaker : deputy governor aino bunge place : fastighetsdagen stockholm, grand hotel light at the end of the tunnel – time to start thinking about next time? * thank you for the invitation to come here! the situation today is a little different than at the time of fastighetsdagen stockholm last year. at that time, inflation was just below 7 per cent measured by the riksbank ’ s target variable, the cpif, and just over 8 per cent if one excludes the contribution from energy prices, which had begun to fall back. to curb the rise in inflation, the riksbank and other central banks had raised their policy rates substantially and rapidly. it is not surprising that this has had an impact on the property and housing markets. the interest rate increases have had a strong impact on businesses and households, and i realise that for many in this room, it has been an acid test. overall, the swedish economy and labour market have shown resilience, but we have seen a major impact on household consumption, a dramatic fall in construction investment, house prices have fallen and property companies have in many cases had to restructure their balance sheets. all these parts of the economy have in common that they are sensitive to interest rates. today the situation is somewhat brighter in many respects. inflation is much closer to the target, the economy has slowed down, but much less than most people predicted a year ago, and all analysts, including the riksbank, are expecting lower policy rates going forward. in my contribution at our last monetary policy meeting, when the policy rate was cut for the first time in eight years, i said that the prospects for inflation look * thanks to mikael apel and karl blom for help with the speech, a number of colleagues at the riksbank for valuable comments, stefania mammos for help with the presentation and elizabeth nilsson for translation. postadress : 103 37 stockholm, besoksadress : brunkebergstorg 11 telefon : + 46 8 - 787 00 00, webb : riksbank. se light at the end of the tunnel – time to start thinking about next time? brighter with regard to the swedish economy, but that there are still risks abroad and linked to the weak swedish krona. according to the outcome in march, inflation was 2. 2 per cent, which is close to the target measured by our target

as enhanced due diligence or cease correspondent relationship, if the need arises. these would not only affect the cost of doing business, but also has an impact on the level of competitiveness at both domestic and international levels. concluding remarks to conclude, i believe that the sharing of new trends and developments would tremendously benefit all of us today to have a better perspective of this global issue. i am also glad to note that some of the ceos of our financial institutions will be sharing their insights on this issue and how they drive aml / cft issue in their institutions. i hope that this sharing of insight will be an annual event, with better participation from other institutions. more importantly, i hope that this event will be the catalyst for more robust and comprehensive aml / cft measures in each of the financial institution in malaysia. we are to internalise the theme “ strengthening governance to derive value ” in our institution.