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3 Aug 2004 - 9 Apr 2021
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CURRRENT NEWS
Next repo rate decision: 9.30 a.m. on 22 April 2008.

Repo rate raised by 0.25 percentage points to 4.25 per cent (published on 13 February 2008).
 
Separate minutes of the Executive Board meeting on 12 February 2008 (published on 25 February 2008).
 
Latest speech: Ingves: Introduction on monetary policy (published on 26 February 2008).
 
The Executive Board and the General Councils views on the report "An Evaluation of Swedish Monetary Policy between 1995 and 2005".
The Executive Board: Inflation target remains, but methods can be further developed (published on 23 February 2007).

The General Council: General Council proposes changes in Sveriges Riksbank Act (published on 23 February 2007).


The objective of monetary policy
According to the Sveriges Riksbank Act, the objective of monetary policy is to “maintain price stability”. The Riksbank has interpreted this objective to mean a low, stable rate of inflation.
 
More precisely, the Riksbank's objective is to keep inflation around 2 per cent per year, as measured by the annual change in the consumer price index (CPI). There is a tolerance range of plus/minus 1 percentage point around this target. At the same time, the range is an expression of the Riksbank’s ambition to limit such deviations. In order to keep inflation around 2 per cent the Riksbank adjusts its key interest rate, the repo rate.
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MONETARY POLICY REPORT 2008:1
At its meeting on 12 February, the Executive Board of the Riksbank decided to raise the repo rate to 4.25 per cent. Inflation is expected to be high, while economic activity remains good. A repo rate of around 4.25 per cent over the coming year will contribute to bringing inflation back towards the target of 2 per cent a couple of years ahead. It will also lead to a balanced development in production and employment. However, there is still considerable uncertainty regarding the economic outlook and inflation prospects.
 
The Riksbank’s decision is based on the economic outlook and inflation forecasts presented in the Monetary Policy Report 2008:1.
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EVALUATION OF MONETARY POLICY
Report by Frederic S Mishkin and Francesco Giavazzi
In spring 2005 the Riksdag Committee on Finance decided to evaluate the monetary policy conducted by the Riksbank during the period 1995-2005. The Committee appointed two professors, Frederic S Mishkin, formerly of Columbia University in New York and now a member of the Federal Reserve Board of Governors, and Francesco Giavazzi, of Bocconi University in Milan, to carry out the evaluation.

The report "An evaluation of Swedish monetary policy 1995-2005" was published on 28 November.
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LAST UPDATED 2/13/2008 
 Content expertMonetary Policy Department
 

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