Sweden
Riksbank worries over fallout from ‘sharp corrections' in house prices
Swedish households' interest-rate expectations guided by current levels rather than projections, recently published document finds; Lars Svensson calls findings potentially ‘biased and misleading'
Riksbank cuts rates on falling inflation, leaning less against the wind
Swedish central bank cuts interest rates by 25bp to 0.75% to counter falling inflation; household debt levels still a risk, says Ingves, but calls on ‘others' to do more to keep them in check
Sveriges Riksbank overhauls communication strategy
Sweden's central bank will focus on ‘dialogue' to better explain its operations; 'openness and clarity' remain guiding principles for the bank, which regularly tops transparency rankings
Sveriges Riksbank calls for higher risk weights on mortgages
Central bank's latest financial stability report supports regulatory proposal to raise minimum amount of capital banks must back up housing loans with from 15 to 25%
Riksbank reviews 20 years of inflation targeting
Sweden’s central bank publishes four research papers on different countries’ experience of inflation targeting and monetary policy; Lars Svensson and Michael Woodford are among the contributors
Monetary policy is the incorrect tool to curb asset bubbles
There is no evidence the use of monetary policy in Sweden to keep household debt in check actually works. Such a policy only undermines employment and results in the Riksbank breaching its mandate
Riksbank policy-makers differ 'fundamentally' on role of central bank, says deputy governor
Sveriges Riksbank deputy says policy approach is marginally beneficial at best and risks undermining 'public confidence' in central bank's targeting of inflation
Leaning against the wind does more harm than good, warns Svensson
Former Riksbank deputy Lars Svensson argues higher interest rates to combat asset bubbles and financial instability have the opposite effect by raising the real debt burden of households
ECB’s Asmussen urges Denmark and Sweden to sit at banking union table
Jörg Asmussen says the single supervisory mechanism will be the envy of those outside the eurozone; tells Denmark and Sweden they will get more of a say if they have ‘a chair at the table’ now
Finland joins Riksbank in greater gold transparency
Bank of Finland joins Riksbank in revealing where it stores its gold; both banks cite geographical diversification as a motivation, but say it still makes sense to keep most in London
Swedish policy-makers clash on mortgage risk weights
Heads of Sveriges Riksbank and Swedish Financial Services Authority disagree over where to set the risk-weight floor on mortgages
Riksbank hits back over ‘systematically inaccurate' inflation forecasts
Swedish central bank rebuffs claims from the National Institute of Economic Research, that it has overestimated inflation for more than a decade with implications for interest rates and growth
Composite indicator shows Swedish banks' systemic importance varied through crisis
Riksbank research finds large time-based variations in the systemic importance of Sweden's four biggest banks before, during and after the financial crisis
New Riksbank deputy explains reasons behind dissent
In his first public address as a Swedish monetary policy-maker, Martin Flodén says a cut in interest rates will help inflation target to be reached sooner, limiting financial imbalances in the long term
Scandinavians open macro-pru toolbox to cool overheated housing markets
Rising property prices, increasing household debt and towering banking sectors are pushing Norway, Sweden, and Denmark to consider unconventional measures to pre-empt a crash
Minutes reveal Riksbank reluctant to give up say on macro-prudential matters
Deputies say democratic accountability is more about who has the right to make decisions than achieving policy objectives; see ‘clear link' between macro-prudential policy and monetary policy
Riksbank holds rates as IMF sees ‘sizeable' risks at Swedish banks
Interest rates held at 1% as Swedish central bank attempts to support growth without adding to household debt stock; IMF Article IV report frets over large and vulnerable financial system
Bank of Finland deputy calls on Denmark and Sweden to join the SSM
Pentti Hakkarainen says a strong Nordic dimension in the European banking union would benefit all countries involved; Sweden focused on domestic supervision for time being
Sweden puts FSA in charge of financial stability
Central bank passed over as government stresses importance of democratic accountability; new financial stability board and bolstered foreign exchange reserves also announced
Riksbank deputy: Slowing Swedish growth to be buoyed by eurozone recovery
Kerstin af Jochnick says Riksbank will conduct flexible monetary policy accounting for growth in household debt until macro-prudential policy has been established
People: NY Fed communications head resigns; Riksbank names acting financial stability chief
NY Fed's Krishna Guha leaves his position with immediate effect but will stay on as senior adviser until September; Martin Johansson will lead the Riksbank's financial stability department; and more
Sweden's Riksbank holds rates, but new deputy dissents
Ingves suggests the possibility of another increase in mortgage risk-weights after they were raised to a minimum of 15% in April; Riksbank estimates consumer price inflation to remain at 1% in 2013
Ingves wants Riksbank monopoly over macro-prudential policy
Stefan Ingves dismisses proposals for central bank and financial services authority to share responsibility for macro-prudential responsibility
Swedish deputy says monetary policy must remain as tool for dealing with financial imbalances
Per Jansson says macro-prudential policies will only complement, and not replace, the Riksbank’s use of its benchmark interest rate to lean against financial imbalances