Sweden's approach to monetary policy

Abstract

The Sveriges Riksbank, the Swedish central bank, is an authority under the Riksdag (parliament) with responsibility for monetary policy. Its objectives are to maintain price stability and to promote a safe and efficient payment system. With the advent of the new regime, which went into effect in January 1999, the Riksdag appoints the Riksbank's Governing Council, which, in turn, appoints its Executive Board, including its Chairman, who serves as Governor of the Riksbank. A member of the Executive Board may not be a member of the Riksdag, a government minister, or an employee of the Government Office. Further, Executive Board members may not take or seek instructions with regard to monetary policy. Thus, the Executive Board has instrument, but not goal, independence.Sweden ; Monetary policy - Sweden ; Banks and banking, Central - Sweden