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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...

Private banks issue their own banknotes

Swedish commercial banks start to emerge again, with the first being Skånska Privatbanken in Ystad. The bank had the right to issue banknotes, subject to certain terms. Thirty other banks followed due. ...

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.

Sweden gets the krona

When the gold standard is introduced, the new unit of coinage is named the krona. ...

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.

We start using decimals

The decimal system is introduced for coins and we get one coin system instead of two parallel ones. Instead of riksdaler banco and riksdaler riksgälds, we get riksdaler riksmynt, which are divided into 100 öre. ...

The Riksbank moves to Helgeandsholmen

The Riksbank moves from Järntorget to the new premises in what would later become the Riksdag building.

1900 - 1999

Important role for Hammarskjöld

Dag Hammarskjöld has great influence over the coordination of fiscal and monetary policy, both as state secretary at the Ministry of Finance and as Chairman of the Riksbank's General Council. Later, he becomes the UN’s first and, so far, only...

The interest rate coup

Without informing the Government in advance, the Riksbank raises the repo rate by an entire percentage point, from 4 to 5 per cent. The decision leads to heated political debate but marks the end of the low interest rate policy. ...