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The November Revolution
07/02/2018 -The internationalisation of the financial market leads increasing numbers of countries to soften up their financial market regulation in the 1970s and 1980s. Sweden resists long, but starts to dismantle regulation in 1985.
The discount rate is used for the first time
07/02/2018 -Banking firm Barings Brothers triggers an international financial crisis after failed speculations. For the first time, the Riksbank uses the policy rate of the time, the discount rate, to cool down the strong demand for foreign currency.
Sweden signs the Maastricht Treaty
07/02/2018 -After the referendum on EU membership, Sweden signs the Maastricht Treaty. One important part of the treaty is that states will commit to giving their central banks an independent status. The central banks shall stand above political influence...
Lars Heikensten becomes Governor of the Riksbank
07/02/2018 -Heikensten has eight years’ experience of the role of Deputy Governor before he becomes Governor of the Riksbank. During his tenure, he manages interest rate cuts and Sweden’s referendum on the EMU.
Negative repo rate is introduced
09/02/2018 -The increasingly low rate of inflation leads to a series of repo rate cuts. In February 2015, the repo rate becomes negative for the first time. The Riksbank also starts to purchase government bonds to lower interest rates in general across the...
Repo rate cut to 0 per cent
09/02/2018 -In October 2014, the Riksbank cuts the repo rate to 0 per cent. Its aim is to increase demand in the economy and bring inflation up. This is a historic event; never in the Riksbank’s almost 350-year history has the interest rate been so low.
The krona is pegged to the ECU
07/02/2018 -On 17 May 1991, the Riksbank decides to peg the krona to the European Currency Unit (ECU). This link is unilateral. There is no agreement with the EC countries and no obligation to maintain a particular exchange rate. To begin with, the ECU link...
Bengt Dennis becomes Governor of the Riksbank
07/02/2018 -Under Bengt Dennis, the marginal rate is raised to 500 per cent for a couple of days in 1992. The fixed exchange rate is replaced by a floating one. Dennis also manages a financial and banking crisis and introduces the Riksbank’s inflation...
Stock market crash on Wall Street
07/02/2018 -On 24 October 1929, the stock exchange on Wall Street in New York crashes. This event marks the end of the Roaring Twenties and is the start of a worldwide depression. The Riksbank is led by Ivar Rooth.
Karl Langenskiöld becomes Governor of the Riksbank
07/02/2018 -Langenskiöld participates in the work of giving the Riksbank a monopoly on issuing banknotes, 1897. He is widely acclaimed, contributing towards his appointment as Governor of the Riksbank. ...