The Riksbank’s Financial Markets Survey: Russia's invasion of Ukraine and rising inflation are reducing risk-taking

News Market participants are taking less risk than last autumn, around half of them respond that they have reduced their risk-taking over the past six months. The main reasons are Russia's invasion of Ukraine and rising inflation. This is shown in the Riksbank’s Financial Markets Survey of participants in the Swedish fixed-income and foreign-exchange markets, which was carried out during the second half of March.

A majority of respondents consider that the market for the Swedish krona is functioning well, but this proportion has decreased slightly since the autumn survey. However, the participants consider that the Swedish fixed income market is functioning poorly, mainly due to the Riksbank's asset purchases.

Financial markets survey

Twice a year, the Riksbank sends out a questionnaire to participants active in the Swedish fixed income and foreign exchange markets. The purpose is to gain an overall picture of participants’ views on the Swedish financial markets – how they are working, what market activity looks like and how extensive their risk-taking is. The report Financial Markets Survey presents the results of the survey responded to during the period 14–31 March 2022. The report is based solely on participants’ responses and is not an account of the Riksbank’s assessments.

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Updated 04/05/2022