Following the very turbulent 2020, the consequences of the pandemic are now more a part of the normal, ongoing work at the Riksbank. As the situation stabilised, the forecast work also became more normal in 2021 and the perspective more forward-looking. The structure of the preparation process has in many respects returned to what it was like before the crisis, for example as regards the frequency of both formal and internal meetings. However, the contents of the preparation remain unchanged in many ways.

Some of the crisis measures that the Riksbank implemented during the pandemic have been phased out, but the extensive acquisition of assets means that the Riksbank's holdings of securities are large. The monetary policy preparation at APP has thus gained several new elements compared to before the crisis, with closer cooperation with other policy departments. The analysis of how monetary policy affects the real economy and inflation via the financial markets was deepened during the crisis. These analyses have now become a permanent part of the decision-making base for monetary policy decisions. The analysis methods that were developed during the crisis, such as using several real-time indicators in the analysis of the Swedish economy, are now a part of the preparation. The use of the Riksbank's credit database (KRITA) and statistics on securities holdings (VINN) are examples of how the financial analysis has been broadened.

In several ways, therefore, crisis preparedness has now become part of the ordinary decision-making process. Monetary policy constantly faces new challenges, and it will remain important that the preparations for the monetary policy decisions are flexible and contribute to the Riksbank's capacity to act quickly and in different ways.