Ingves: Riksbank must have flexibility to develop new policy tools

Governor warns inquiry into central bank “clings” to an outdated view of economics

Photo by David Lundberg
Stefan Ingves
David Lundberg

Central banks must have the power to develop new policy tools and use them flexibly, given the high levels of uncertainty in the modern economy, Stefan Ingves said on December 8.

The governor of Sveriges Riksbank said the 2008 crisis had exposed previous models and policy frameworks as overly simplistic. Since then, the financial sector has grown even more in importance and uncertainty has risen, which calls for flexibility and new ways of thinking, he argued.

“We need to stand ready to

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