The Riksbank's activities 2012: Expansionary monetary policy and active stability work
Date
11/02/2013
In 2012, the Riksbank conducted an expansionary monetary policy and actively worked to safeguard financial stability. This can be seen in the Riksbank's Annual Report for 2012, which has been submitted to the Riksdag (the Swedish parliament) today.
"In 2012, the Swedish economy was able to show resilience against the sovereign debt crisis in the euro area and the attendant unease on the financial markets. However, already at the start of the year, the weak developments abroad dampened the prospects for Swedish growth. We consequently decided, during the year, to hold the repo rate at a level allowing us to attain the inflation target and stabilise employment over a slightly more long-term perspective, at the same time as we take into account the risks of financial imbalances. A large part of our work, both in Sweden and in several international forums, also concerned inquiring into and influencing the formulation of financial regulations so as to reduce, as far as is possible, the likelihood of financial crises arising in the future and, should a crisis nevertheless occur, help us to manage it." This is what the Governor of the Riksbank, Stefan Ingves, states in his comments on the Riksbank's Annual Report 2012.
The Annual Report includes a review of the Riksbank's work on managing the effects of the uncertain situation, above all in the euro area, and simultaneously reforming the regulations and improving oversight of the financial system. The Riksbank also describes the continued work on developing a new series of banknotes and coins, and reports the results of its other activities during 2012. The Annual Report also contains the Riksbank's balance sheet and profit and loss account, which shows that the Riksbank's profit decreased by SEK 2.0 billion, to SEK 1.9 billion.
The Riksbank's Annual Report for 2012 can be obtained as a parliamentary document in Swedish via the link on this website. English and Swedish versions of the Annual Report, in the Riksbank's standard layout, will be published on 28 March 2013, when it will be possible to download the report or order copies through this website.
