Compared with other analysts, Sveriges Riksbank made “relatively good” forecasts of GDP growth and unemployment during the period 2007–2015, according to the Swedish central bank’s annual Account of monetary policy. But it was not as accurate when it came to inflation and the repo rate, with its forecasts here “poorer” than average.

The bank suggested the low accuracy for interest rate forecasts could in part be down to the “Riksbank’s need ... to assess the development of the (real) interest