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3 Aug 2004 - 9 Apr 2021
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AN EVALUATION OF SWEDISH MONETARY POLICY 1995-2005
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 2006.
Read the entire report
Press release by prof. Giavazzi
 
The Executive Board and the General Councils views on the report
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.
Read more
NEWS
Press Release: Repo rate raised to 4.75 per cent
(4 September 2008)
Economic commentaries: House prices and the economy by Peter Sellin and Karl Walentin
(22 August 2008)
Press Release: The economic situation
(21 August 2008)
Separate minutes of the Executive Board meeting on 2 July 2008
(16 July 2008)
MONETARY POLICY REPORT AND UPDATE
The Executive Board of the Riksbank holds six scheduled monetary policy meetings a year and at these it decides on the monetary policy stance and on changes in the repo rate. A press release is published the day after each monetary policy meeting. The press release also contains the Riksbank’s forecasts regarding future developments in economic activity and inflation and a description of what monetary policy is currently considered to be well balanced. In connection with three of the monetary policy meetings a Monetary Policy Report is published. This Report contains the Riksbank’s forecasts for the economy and inflation in the coming years.
 
On the three other occasions a press release and a monetary policy update are published; the latter containing a limited number of forecasts for central macroeconomic variables.
 
You can download or order the report under Press & published.
Download or order the report
103 37 Stockholm Brunkebergstorg 11 Phone +46 8 787 00 00 Fax +46 8 21 05 31 Email registratorn@riksbank.se Press contact +46 8 787 02 00
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