Sweden
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
Riksbank predicts ‘elimination’ of retail payments competition
Sweden’s retail payments market is expanding but Sveriges Riksbank says larger players will prevail and smaller companies ‘will be eliminated’
Riksbank deputy appointments boost easing hopes
Martin Flodén and Cecilia Skingsley selected as new deputies; seen to shift the executive board in a more ‘dovish’ direction and increase the chances of a rate cut
Riksbank risk survey reveals rate-rise fears
Participants in Sweden’s fixed-income and forex markets raise concerns over interest rates rising faster abroad than at home; unemployment data fuels call for a rate cut in the near term
Swedish deputy wants central bank independence reconsidered
Barbro Wickman-Parak, in her last speech at the Riksbank, says independence is ‘essential’ for price stability but needs to be reviewed with regard to macroprudential policy and financial stability
Riksbank deputy Lars Svensson steps down
Riksbank’s ‘most committed dove’ will leave the central bank in May after failing to win the other members of the Executive Board round to a more expansionary monetary policy
Basel III insufficient for ‘huge’ Swedish banking system, says Ingves
Sveriges Riksbank governor says Sweden must go ‘over and above’ capital and liquidity standards in Basel III; identifies household debt and bank market-funding as core weaknesses
Riksbank’s payment system restored after technical failure
Sweden’s large-value payments system, RIX, restored to full functionality after failing to start yesterday afternoon. But cause of disruption still unknown