Background & Purpose

The period between 2015 and 2024 was highly unstable, marked by low inflation, the pandemic, an energy crisis, and high inflation following the invasion of Ukraine. The Parliament needed to assess if the Riksbank's actions during these turbulent times were effective.

Proposals & Debate

The Finance Committee reviewed an independent expert report on the Riksbank's decisions. The committee analyzed the use of unconventional tools like negative interest rates and quantitative easing, concluding that while they helped reach inflation targets, they also created side effects for public debt management.

The Decision

The Parliament approved the committee's evaluation, confirming that the Riksbank's actions were generally well-judged given the circumstances at the time.

Does this affect you?

  • Economic analysts and researchers: They gain access to a comprehensive review of how unconventional monetary tools impacted the Swedish economy.
  • The Swedish Riksbank: The bank receives clear feedback to refine its framework for future policy decisions and risk assessments.

In Practice

  • The Riksbank is encouraged to keep improving how it analyzes the risks of its policy tools.
  • The evaluation serves as a formal record of how economic policy performed during a decade of crises.
  • Future monetary policy will benefit from the lessons learned regarding the interaction between interest rate decisions and government finances.