Riksbank

The Sveriges Riksbank, commonly known as Riksbanken, is Sweden’s central bank and monetary authority. Established in 1668, it is the oldest central bank still in operation. Its core responsibilities include maintaining price stability, promoting a safe and efficient national payment system, and safeguarding financial stability. The bank also issues Swedish banknotes and coins and, when appropriate, manages foreign exchange reserves.

Operating under the Sveriges Riksbank Act, the bank seeks to keep inflation low and stable, often targeting around 2 percent over time. The primary monetary policy instrument is the repo rate, supplemented by other measures in extraordinary circumstances. While the bank has independence in its policy decisions, it remains accountable to the government and Parliament.

A key part of its mandate is to ensure the reliability of Sweden’s payment systems, including the RIX system, and to support smooth functioning of financial markets. The Riksbank conducts economic research, analyses risks to financial stability, and provides assessments of the Swedish economy and policy outlook. It also serves as the issuer of cash and oversees the distribution of banknotes and coins.

Internationally, the Riksbank collaborates with other central banks and participates in global forums and standard-setting bodies via organizations such as the Bank for International Settlements. Sweden uses the krona (SEK) and has not adopted the euro, maintaining an independent monetary policy framework.