A decade of reforms at the Riksbank

Central Banking (CB): In your ten years as a deputy governor and governor you have overseen far-reaching changes in many aspects of the Riksbank's organisation, policymaking and culture. In recent years, the central bank has considerably reduced staff and disposed of certain functions. Why did the Riksbank launch its efficiency drive?

Lars Heikensten (LH): If you go back to 1994-5, when a new management team of which I was a part joined, the Riksbank and the country had just gone through a deep