Today Governor Stefan Ingves began the hearing at the Riksdag Committee on Finance by describing the events in recent months and how they have affected Sweden, as well as the role played by monetary policy for developments in Sweden at this stage. Given this, Mr Ingves provided an account of the recent monetary policy decision published in February.
The Riksbank has decided to borrow the equivalent of SEK 10 billion in foreign currency through the National Debt Office in order to restore the level of the foreign currency reserve. The Riksbank's participation in the loan arrangements of the International Monetary Fund (IMF) in recent years has entailed the use of funds from the foreign currency reserve.
Why is it important for the Riksbank to lend up to SEK 100 billion to the International Monetary Fund (IMF)? The answer can be found in this Economic Commentary, which also describes how the Riksbank's lending to the IMF works.
22/2/2012Governor Stefan Ingves will hold the opening speech at a seminar on the financial and debt crises arranged by the Royal Institute of Technology.
23/2/2012Governor Stefan Ingves will participate in the Riksdag Committee on Finance's open hearing on monetary policy.
24/2/2012Deputy Governor Barbro Wickman-Parak will hold a guest speech on the economic situation at an event for financial market participants with BlackRock, Fidelity and Franklin Templeton.
The council for cooperation on macroprudential supervision will meet for the first time. Representatives of both the Riksbank and Finansinspektionen will participate
See Calendar for more information
1.50% Date: 23/02/2012
Applies from 22 February 2012. Next monetary policy meeting will be on 18 April and the decision is published on 19 April.
1.9% Date: 23/02/2012
Next publishing will be on 13 March 2012
Read more about the current inflation rate
Link to Statistics Sweden, SCB
2.0% Date: 23/02/2012
The target has applied since 1995
Read more about the inflation target
The next Monetary Policy Update will be published on 19 April 2012.
Monetary Policy Report and Update
Sveriges Riksbank is Sweden's central bank and a public authority under the Riksdag, the Swedish parliament. The Riksbank is responsible for conducting monetary policy, the objective of which is to maintain a low and stable level of inflation. The Bank also has the task of ensuring that payments in the economy can be made safely and efficiently.
Governor Stefan Ingves chatted in Swedish on the Riksbank's website. Follow the link for a translation into English of the questions and replies.
The Monetary Policy Update was published on 20 December 2011. It describes the deliberations made by the Riksbank when deciding what would be an appropriate monetary policy to conduct.
Sweden is to have new banknotes and coins. The General Council of Sveriges Riksbank has decided on the themes and motifs for the new banknotes and coins. They also decided on the size and colours of the new notes.
