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First banknotes in Europe

Stockholms Banco issues the first real banknotes in Europe. They are a great success, but it all ends in a bank failure.

First in the world with price stability target

After speculation against the krona, Sweden abandons the gold standard. The exchange rate becomes variable but, to protect domestic purchasing power, the Riksbank becomes the first central bank in the world to have a price stability target as a...

The Kreuger Crash

Ivar Kreuger’s enormous financial empire collapses in the wake of the Wall Street Crash. Despite enormous credits from Swedish banks and the Riksbank, he is unable to get his affairs in order and found dead on March 12, 1932 in Paris.

The Riksbank sets an inflation target

With a floating exchange rate, price stability becomes the overall target for monetary policy. The Riksbank specifies the target at 2 per cent inflation with a tolerance band of +/- 1 percentage point.

Counterfeiters sentenced to death

Susanna Ekström and Ingeborg Jönsdotter, two female banknote counterfeiters, are sentenced to death for counterfeiting and passing banknotes.

Financial crisis managed

A financial crisis breaks out in the United States. It rapidly spreads to Europe and Sweden. For the first time, the Riksbank acts as a modern central bank and manages the crisis.

Lars Wohlin becomes Governor of the Riksbank

Wohlin steps in with a strong influence over economic policy. He is met with challenges in the form of the wave of devaluations prevailing in his tenure.

Construction starts on the Riksbank building

It takes six years for the building, designed by architect Peter Celsing, to be finished. On 8 April 1976, it is time to move into the black granite building at Brunkebergstorg in Stockholm.

Strong deflation after the war

The end of the war means that the strong demand for Swedish products abroad collapses with devastating deflation and an economic crisis as consequence.

2000 - 2025