Stefan Ingves on central bank failings on inflation and financial stability

Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, and the need for explicit legal definitions for digital money

Lucy Stewart

Many central banks have struggled to get stickier, higher-than-expected inflation under control. Some blame supply-side shocks, shifting demographics and geopolitical tensions, others blame too-low for too-long interest rates and excessive quantitative easing policies that distorted markets and sparked asset inflation. What is your assessment of the causes? And do you believe central banks can and are doing enough to get a handle on the situation?

Central bankers do not have perfect foresight

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account