Sveriges Riksbank changes monetary policy framework

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Sweden’s central bank has formally changed the inflation index it uses for its monetary policy target, it announced today (September 7). It will now use the consumer price index with a fixed interest rate (CPIF), rather than the consumer price index (CPI).

Sveriges Riksbank has also adopted a 1% band of plus or minus one percentage point to the 2% inflation target. The Riksbank says it adopted the band “to illustrate that monetary policy is not able to steer inflation in detail, but that

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