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Summary

An independent central bank aiming for a high level of transparency

Statutory target of stable prices Independence, which requires accountability The Riksbank’s monetary policy tools

A structured but flexible process

Producing materials for a monetary policy decision Preparation for the monetary policy drafting meeting (PBG) – proposal for the main scenario and monetary policy Meetings of the monetary policy group (PBG) Continued work after the monetary policy group meeting – a monetary policy report is produced The monetary policy meeting

Monetary policy in the coronavirus crisis

Quickly shifting focus to the present – economic freefall and need for previously untried measures Increased real-time data collection and new methods New measures and closer cooperation between different departments at the Riksbank Important to continue to have a flexible process

References

Author: Maria Sjödin

About the Riksbank's Economic Commentaries

Economic Commentary

Economic Commentaries are brief analyses of issues with relevance for the Riksbank. They may be written by individual members of the Executive Board or by employees of the Riksbank. Employees’ commentaries are approved by their head of department, while Executive Board members are themselves responsible for the content of the commentaries they write.

The path to a monetary policy decision

No. 3 2022, 7 April

Economic Commentary

No. 3 2022, 7 April

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