Sweden's Riksbank reported to the Riksdag Committee on Finance on an external evaluation of Sweden’s monetary policy over 2015–2024 and set out lessons the Executive Board intends to take forward, including strengthening its approach to unconventional measures, data and modelling, and the preparation of interest-rate decisions. The Governor highlighted that asset purchases can be used in unusually difficult circumstances but should face a high threshold, and that the Riksbank intends to further develop its analysis and framework for how such measures are designed and wound down, taking account of costs and risks and improving reporting and communication on side effects. The Riksbank also pointed to a need for more high-frequency and disaggregated “micro data” to detect shifts in inflation dynamics more quickly, continued investment in modelling tools, and expanded use of scenario analysis; the decision process is also intended to incorporate a broader range of internal perspectives to avoid groupthink. On fiscal-monetary interaction, the Executive Board supported increasing information exchange and noted regular discussions with the Ministry of Finance within the constraints of the prohibition on instructions. The Executive Board plans to publish a joint comment on the evaluation report in March.
Riksbank 2026-02-17
Sweden's Riksbank responds to external review of 2015–2024 monetary policy and signals tighter framework for asset purchases
Sweden's Riksbank reported on an external evaluation of its monetary policy from 2015 to 2024, highlighting lessons for future unconventional measures, data use, and interest-rate decision preparation. The Riksbank aims to enhance its asset purchase framework, improve micro data analysis, and broaden perspectives to avoid groupthink. The Executive Board supports increased fiscal-monetary information exchange and plans to publish a joint comment on the evaluation report in March.