Annual Report 2010 T 2010 R PO L RE U a Bank – ANN S S Rik Sverige
Annual Report 2010 2 SVERIGES RIKSBANk – ANNUAL REPORT 2010 n The tasks and roll of the Riksbank The Riksbank is Sweden’s central bank and a public authority that reports to the Riksdag (the Swedish parliament). The Riksbank is responsible for conducting Swedish monetary policy, with the objective of maintaining price stability. The Riksbank is also entrusted with the task of promoting a safe and efficient payment mechanism. Maintaining the value of money – The Riksdag has given the Riksbank independ- price stability ent status. This means that the Executive Board of the Riksbank makes monetary policy decisions Under the Sveriges Riksbank Act, the Riksbank without instruction from any other parties. By shall maintain price stability, which means that delegating the task of maintaining inflation at a inflation should be low and stable. This pro- low and stable level to the Riksbank, the Riksdag vides a sound basis for favourable and sustain- has ensured that monetary policy is based on a able growth. The Riksbank has specified an long-term perspective and that there is a sound inflation target according to which the annual basis for the credibility of the inflation target. change in the consumer price index (CPI) is to be 2 per cent. The Riksbank’s independent status is also re- flected in its financial independence, guaranteed The Riksbank determines the level of its policy through its right to manage financial assets. The interest rate, the repo rate, to influence infla- Riksbank manages financial assets primarily to tion. The repo rate affects other interest rates ensure that it can fulfil its statutory objective in the economy and ultimately economic activ- and perform its tasks.
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