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The Riksbank is Sweden's central bank and an authority under the Riksdag, the Swedish parliament. The Riksbank is responsible for monetary policy with the objective to maintain price stability. The bank has also been given the task to promote a safe and efficient payment system.

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Register with our new press room to continue to receive press releases

On 1 April 2023, we will switch supplier to Via TT, meaning that you will have to reregister if you wish to continue to receive press releases from the Riksbank. Follow this link to our press room at Via TT, where you can start a new subscription: https://via.tt.se/pressrum?publisherId=3236667 (to change to English, go to bottom of page https://via.tt.se/pressrum?publisherId=3236667). Yours faithfully, Sveriges Riksbank

Deputy Governor Henry Ohlsson will leave the Riksbank at the end of June

Deputy Governor Henry Ohlsson has informed the Chair of the General Council Bo Broman that he will resign as Deputy Governor on 30 June 2023."I have been Deputy Governor of the Riksbank for more than eight years and they have in many ways been the best years in my professional life. I have been given the opportunity to apply the knowledge and experience I have with me from my time in the academic world to do what is best for Sweden. It has been a pleasure to make this journey together with all the knowledgeable employees at the Riksbank and my colleagues on the Executive Board. Nevertheless,

The Riksbank’s Business Survey: Price increases continuing, but discounts increasingly common

The economic situation has continued to weaken, but it has not become as bad as was feared last autumn. This is reported by the major Swedish companies in the Riksbank's Business Survey. Companies' costs are continuing to rise, but some costs are no longer rising as rapidly. However, price increases are expected to continue to be higher than normal, albeit lower than last year.“Surprising that economic activity has been so strong” Companies generally believe that economic activity has continued to weaken since the previous survey in September. But many of them point out that the

No dividend paid to the Treasury

The General Council of the Riksbank has, in accordance with the Sveriges Riksbank Act, submitted a proposal to the Riksdag (the Swedish parliament) regarding the allocation of the Riksbank's results for the financial year 2022. As the results for 2022 amount to SEK –80,734 million, the General Council proposes that theRiksbank should not pay any dividend to the Treasury. This proposal has been calculated in accordance with the guidelines applying since 1988. According to the guidelines, 80 per cent of the past five years’ average profit, after certain adjustments, shall be transferred

Minutes of the Monetary Policy Meeting held on 8 february 2023

Inflation is far too high and has continued to rise. For inflation to fall and stabilise around the target within a reasonable time, the Executive Board has decided to raise the Riksbank's policy rate by 0.5 percentage points to 3.0 per cent. The Executive Board has also decided that the Riksbank shall sell government bonds as from April to reduce the asset holdings at a faster rate and to offer larger volumes of Riksbank Certificates in the weekly monetary policy operations.Globally, inflation remains high and central banks have increased their policy rates to bring it down. Swedish

Riksbank rents office premises in Stockholm

The Riksbank building on Brunkebergstorg was completed in 1976 and now needs to undergo extensive renovation and modernisation. To facilitate the renovation work and avoid disruptions to its operations, the Riksbank is renting office premises from Corem, which can be used for parts of its operations.The renovation and modernisation will take several years and make it difficult for all of the staff to remain in the building. The Riksbank has therefore rented premises from Corem at Klarabergsgatan 33-35 in Stockholm, for a period of six years. The premises are expected to be ready to move

Riksbank raises policy rate by 0.5 percentage points and, starting in April, will begin selling government bonds

Inflation is far too high and has continued to rise. For inflation to fall and stabilise around the target within a reasonable time, the Executive Board has decided to raise the Riksbank's policy rate by 0.5 percentage points to 3.0 per cent. The policy rate will probably be raised further during the spring. Further, the Executive Board decided that the Riksbank will, with effect from April, sell government bonds to reduce asset holdings at a faster pace.High global inflation and rising policy rates Central banks around the world have rapidly raised their policy rates to bring down

Riksbank exchanges EU payment

Sweden's EU membership entails monthly contributions to the EU's budget. These payments are made in Swedish kronor by the Swedish government and exchanged into euro in the foreign exchange market by a recipient central bank within the EU. The Riksbank has decided to exchange an EU payment in February 2023. The total amount is SEK 3 347 million. The Riksbank has on previous occasions exchanged EU payments to avoid unnecessarily large fluctuations in the exchange rate in connection with these transactions. These exchanges do not have any monetary policy purpose. The effect on liquidity

Increasingly easy to pay for most people – but for some it has become more difficult

Most people pay digitally in Sweden today and as a result there are fewer and fewer people who use cash. However, those who do not have access to digital forms of payment have difficulties in paying bills or in redeeming payouts of pensions, for example. These conclusions are reached by the Riksbank in its Payments Report, which is published today.For most people, it's becoming easier to pay In Sweden, the digitalisation of the payment market has been very rapid. The Riksbank's survey of payment patterns in Sweden shows that almost all payments are made digitally, that people often shop

Minutes of the Monetary Policy Meeting held on 23 November 2022

To bring down inflation and safeguard the inflation target, the Executive Board decided to raise the policy rate by 0.75 percentage points to 2.50 per cent at the monetary policy meeting on 23 November. Inflation is still far too high and compared with September the Executive Board assesses that monetary policy needs to be tightened further to bring it back to the target within a reasonable time.The members noted that global inflation remains high and that central banks around the world are therefore raising their policy rates. In Sweden, inflation has been lower than the Riksbank’s

Policy rate raised by 0.75 percentage points

Inflation is still far too high. The high inflation undermines purchasing power for many people and makes it more difficult for households and companies to plan their finances. To bring down inflation and safeguard the inflation target, the Executive Board has decided to raise the policy rate by 0.75 percentage points to 2.5 per cent. The forecast shows that the policy rate will probably be raised further at the beginning of next year and then be just below 3 per cent. It is still difficult to assess how inflation will develop and the Riksbank will adapt monetary policy as necessary to ensure

Challenges to financial stability

Inflation is high and the central banks have therefore tightened monetary policy swiftly. One important reason for the strong rise in inflation is Russia’s invasion of Ukraine, which has also caused major disturbances in the energy market in Europe. Growth prospects in Sweden and abroad have deteriorated and the risks to financial stability have increased. In the Swedish financial system, the greatest risk is the banks’ exposure to the highly indebted commercial property companies, although the high level of indebtedness among households is also making the system vulnerable.The risks in the

The Riksbank’s Business Survey: Costs accelerating, economy slowing down

Economic activity remains good. But there are now more and more signs that demand is beginning to decline. This is reported by the major Swedish companies in the Riksbank's Business Survey. Companies' costs have continued to increase and prices are rising both by larger amounts and more often than normal. Moreover, there are general plans to continue raising prices in the coming year.“We are preparing for a downturn” It is mainly manufacturing companies that are satisfied with the economic situation. Parts of the retail trade feel instead that demand is already weak, as inflation has

Minutes of the Monetary Policy Meeting held on 19 September 2022

Inflation is too high. It is undermining households’ purchasing power and making it more difficult for households and companies to plan their finances. It is very important that monetary policy continues to act for inflation to fall back and stabilise at the target of 2 per cent within a reasonable time perspective. At its monetary policy meeting on 19 September, the Executive Board of the Riksbank decided to raise the policy rate by 1 percentage point to 1.75 per cent.The members concluded that inflation has continued to rise rapidly, both in Sweden and abroad, and that central banks

The Riksbank tests cross-border payments with the e-krona

Sveriges Riksbank and the central banks of Israel and Norway and the Bank for International Settlements (BIS) are launching Project Icebreaker, a joint exploration of how Central Bank Digital Currencies (CBDCs) can be used for international retail and remittance payments.Cross-border payments continue to be plagued by high costs, low speed, limited access and insufficient transparency. The G20  has launched an ambitious programme to improve cross-border payments, aiming to achieve faster and cheaper, as well as more transparent and inclusive cross-border payments. One of

Policy rate raised by 1 percentage point

Inflation is too high. It is undermining households’ purchasing power and making it more difficult for both companies and households to plan their finances. Monetary policy now needs to be tightened further to bring inflation back to the target. The Executive Board has therefore decided to raise the policy rate by 1 percentage point to 1.75 per cent. The forecast for the policy rate is that it will continue to be raised in the coming six months. The development of inflation going forward is still difficult to assess and the Riksbank will adapt monetary policy as necessary to ensure that

Aino Bunge new Deputy Governor of the Riksbank

The General Council of the Riksbank decided today to appoint Aino Bunge new member of the Executive Board of the Riksbank. Aino Bunge succeeds Cecilia Skingsley, who left the Riksbank in August 2022 to work at BIS. The General Council also decided to appoint Anna Breman First Deputy Governor of the Riksbank.“We are happy to be able to present yet another very qualified person as member of the Executive Board. The General Council is unanimous in this appointment. Aino Bunge has extensive and in-depth experience of both the academic world and the private and public sectors, both in Sweden and

Minutes of the Monetary Policy Meeting held on 29 June 2022

The Riksbank needs to prevent high inflation becoming entrenched in price- and wage-setting, and to ensure that inflation returns to the target. The Executive Board therefore decided at its monetary policy meeting on 29 June to increase the policy rate by 0.5 percentage points to 0.75 per cent and to reduce the Riksbank's asset holdings faster during the second half of the year than what was decided in April.The members observed that inflation has continued to rise rapidly and that price increases were spreading, in a worrying fashion, throughout the economy. A significant factor in this

Policy rate increased by 0.5 percentage points to 0.75 per cent

Inflation has continued to rise rapidly and price increases are spreading through the economy. To ensure that inflation returns to the target and to counteract the high inflation becoming entrenched in price setting and wage formation, the Executive Board has decided to raise the policy rate from 0.25 per cent to 0.75 per cent. The Executive Board's forecast is that the policy rate will be raised further and that it will be close to 2 per cent at the start of next year. The Executive Board has also decided that, in the second half of the year, the Riksbank’s asset holdings shall shrink faster

Erik Thedéen appointed new Riksbank Governor

The General Council of the Riksbank decided today to appoint Erik Thedéen as new Governor of the Riksbank. Mr Thedéen succeeds Stefan Ingves, who leaves the Riksbank at the end of the year."We are very pleased to be able today to present Erik Thedéen as new Governor of the Riksbank and a highly qualified replacement for Stefan Ingves, whose mandate expires at the end of the year. The General Council is unanimous in this appointment”, say Chair of the General Council Susanne Eberstein and Vice Chair Michael Lundholm in a joint comment. Erik Thedéen has been Director General at the Swedish

Stefan Ingves leaves the Riksbank at the end of the year

After 17 years as Governor of the Riksbank, Stefan Ingves will leave the bank when his term of office expires on 31 December 2022.“These years have been eventful and stimulating and it has been a great honour to head up the Riksbank's work, together with my colleagues on the Executive Board, the General Council and all of the knowledgeable and dedicated employees at the bank. I have had the privilege of working with the best, both in Sweden and around the world, and I have been involved in making the Riksbank into an institution ranked as one of the best central banks in the world. This has

The Riksbank’s Business Survey: “Everyone is talking about the problems, no one is talking about how well things are going”

Several of the major Swedish companies say that they have never experienced such a favourable economic situation as now. This is described in the Riksbank's latest Business Survey. It is primarily manufacturing industry companies that are satisfied with the situation. Construction activity is relatively weaker, but is nevertheless perceived as somewhat better than normal. At the same time, companies generally emphasize that the current uncertainty makes it difficult to assess how the future will be. “We’re in tricky territory right now” says one respondent. Today's strong economic situation

Ukrainian citizens can exchange Hryvnia for Swedish krona

The Riksbank has signed an agreement with Forex to exchange the local currency of Ukrainian refugees, Hryvnia, into Swedish kronor.The agreement means that Ukrainian refugees over 18 years of age, who are entitled to temporary protection in Sweden under the Temporary Protection Directive, can with effect from 15 June turn to Forex to exchange up to 10,000 Hryvnia to SEK. The exchange is made at a rate which is determined by the Ukrainian central bank, the National Bank of Ukraine. The background to the agreement is that, following Russia's invasion of Ukraine, many Ukrainians have fled

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