By Gustav Sandstrom
STOCKHOLM--Sweden's economy will normalize in coming years
although economic growth is likely to remain below average in 2013,
Riksbank Governor Stefan Ingves said Thursday.
The rate of inflation is gradually moving towards the central
bank's targeted 2% level while unemployment is expected to fall
towards 6%-7% following a slight rise in the current year, Mr.
Ingves said during a hearing at the Swedish parliament's Finance
Committee.
Swedish households' indebtedness is likely to flatten out, but
it would be good for economic stability if it would come down, Mr.
Ingves said.
The policy interest rate will probably remain unchanged in the
course of the coming year, he added, repeating the Riksbank's
earlier outlook.
The Swedish central bank in its latest interest rate decision
last month kept the main policy rate unchanged at 1% and said it
would leave the rate steady for about a year, after which it would
be gradually raised.
Economic growth in Sweden has slowed since 2011 as demand for
its exports, which contribute half of Sweden's gross domestic
product, has fallen across Europe. But recent sentiment indicators,
such as the purchasing managers' index, have suggested a brighter
outlook.
The Swedish krona has strengthened recently against currencies
including the euro and the dollar.
However, Mr. Ingves Thursday said the real SEK exchange rate
development, taking into account the price trends in Sweden and
abroad, is not remarkable.
At 1009 GMT, the Swedish krona was trading at SEK8.30 against
the euro.
Write to Gustav Sandstrom at gustav.sandstrom@dowjones.com