STOCKHOLM - Swedish central bank governor Stefan Ingves said the Riksbank could face a dilemma ahead in reining in rising house prices without cutting off credit to businesses, the minutes of the latest central bank meeting showed on Monday.

It is important that a thorough analysis of the housing market is performed during the spring and the winter and that a clear conclusion is drawn concerning the extent to which further measures, in addition to monetary policy, are required to ensure stable development, Ingves said.

The Riksbank left interest rates unchanged at a record low of 0.25 percent last month and stuck to its view that they would remain at that level to autumn 2010.

At the meeting in December, Deputy Governor Lars Svensson wanted the repo rate cut to zero while two of his colleagues said it would be necessary to raise rates sooner than indicated by the proposed interest rate path.