Public hearing in the Committee on Finance on the evaluation of Swedish monetary policy 2015–2024

On Tuesday 17 February, the Committee on Finance will hold a public hearing on the evaluation of Swedish monetary policy 2015–2024

The Committee on Finance commissioned an evaluation of the Riksbank’s monetary policy in 2015–2024. The evaluation was conducted by Carolyn Wilkins, Senior Research Scholar at Princeton University, and Morten Ravn, Professor of Economics at University College London.

In connection with this, the Committee will host a public meeting with a hearing of the evaluators and the Executive Board of the Riksbank, with comments from Professor Lars Calmfors.

Time: 9.00–11.15
Venue: The former Second Chamber

Getting to the Riksdag

The meeting will be open to the public and the media, and can followed directly or on demand via the Riksdag webcast service. It will be broadcast with interpretation into English and Swedish and without interpretation.

Programme

9.00 The Chair of the Committee on Finance Edward Riedl (Moderate Party) welcomes the participants.

9.05 Introductory speeches by

Morten Ravn, Professor of Economics at University College London
Carolyn Wilkins, Senior Research Scholar at Princeton University.
9.25 Comments from Erik Thedéen, Governor of the Riksbank.

9.40 Comments from Lars Calmfors, Professor Emeritus at the Institute for International Economic Studies (IIES), Stockholm University.

9.55 Questions from members of the Committee on Finance.

11.15 (at the latest) Deputy Chair of the Committee on Finance Mikael Damberg (Social Democratic Party) closes the hearing.

The report Riksbank evaluation 2015–2024

The Riksbank is highly regarded but needs to continue to develop its frameworks

Ravn and Wilkins point out in their evaluation that the Riksbank is internationally well-respected and has a deservedly high reputation for its handling of monetary policy. At the same time, the evaluators note that with the benefit of hindsight, it is clear that there have been certain shortcomings.

For example, they highlight the size and composition of the Riksbank’s quantitative easing, insufficient risk analysis and shortcomings in the interaction between monetary and financial policy. Overall, the evaluators consider that Sweden’s monetary policy framework should continue to be developed. Among other things, they propose that the Riksbank should develop models to evaluate the benefits of the use of unconventional monetary policy tools. Furthermore, coordination of the framework for financial stability needs to be strengthened. The evaluators also note that the Swedish krona exchange rate has weakened over a long period and recommend the commissioning of a review on Sweden’s future foreign exchange reserve policies.

Ravn and Wilkins emphasise that a strength of the Swedish system is that the Riksbank is an independent institution that is regularly evaluated. According to the evaluators, the evaluation process was characterised by openness and commitment.

Document

Report from the Riksdag 2025/26:RFR8 Riksbank evaluation 2015–2024

Watch the meeting

About the Committee on Finance’s examination of the Riksbank

The hearing and report are part of the democratic scrutiny of the Riksbank. Read more about the Committee on Finance’s examination of the Riksbank here.

The Committee on Finance’s examination of the Riksbank

Media accreditation to the Riksdag

Journalists and photographers wishing to work independently in the Riksdag premises require media accreditation to the Riksdag. Information and an application form are available on the Riksdag website.

Media accreditation

Contact person for the media

Thomas Hagberg, Committee Secretary, Committee on Finance, telephone: +46 8 786 46 06, email: thomas.hagberg@riksdagen.se