UPDATE 1-Swedish central bank's Bunge says AI not yet affecting monetary policy but development moves fast

‌Artificial intelligence has ​not yet penetrated the labour ‌market and productivity enough to affect Swedish monetary policy, but developments are ‌moving very fast and the central ‌bank must monitor what happens in the coming years, Riksbank Deputy Governor ⁠Aino ​Bunge ⁠said on Tuesday.

"AI can drive policy rates ⁠up or down," the Riksbank's ​Bunge said in the written copy ⁠of a speech. She said an AI-related ⁠upturn ​in productivity growth would push up the neutral interest ⁠rate, and that could argue in favour ⁠of ⁠a higher policy rate over time.

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