Riksbank Deputy Governor Martin Floden said on Wednesday that he believes it's “better if interest rates could be raised gradually.”

“The policy rate is the primary tool for tightening policy,” Floden added.

During his speech on Tuesday, Floden said "inflation has been significantly higher than in our latest forecast, “adding that the Riksbank would need to conduct a re-evaluation of the monetary policy at the next meeting.

The Swedish central bank announces it's next policy decision on April 28.