Recently-released minutes of the Sveriges Riksbank’s last monetary policy meeting show two board members raising concerns about its vote to tighten monetary policy.

The Swedish central bank increased the repo rate by 25 basis points to 0% on December 19. In spite of years of negative rates and central bank asset purchases, annual inflation in Sweden was recorded at 1.7% in November.

But two of the board’s six-member body opposed the measure, citing persistent below-target inflation, weaker