STOCKHOLM, (Reuters) – Sweden urgently needs to tighten its policy so the central bank doesn’t have to take any more severe measures in the future, Deputy Governor Martin Floden stated on Thursday.

Floden declared that “it is urgent to increase rates once or multiple times.” “Partly because inflation right now is high. We don’t want to it to become entrenched. And the longer that we wait, the potential for more drastic action,” Floden explained.

The second was to assess how the economy responds to rate rises which were not common in recent decades, he stated.