Repo rate path after each monetary policy meeting

Date 07/09/2007

The Executive Board of the Riksbank has decided to publish forecasts for the future repo rate path and a number of other important variables in connection with each monetary policy meeting. This can be regarded as a further step in clearer communication and in meeting the need for more information, in line with the Riksbank’s general revision of its communications. The Executive Board has also decided to hold six ordinary monetary policy meetings a year.

In future, the Riksbank will publish forecasts after each monetary policy meeting. As before, complete forecasts will be published in the Monetary Policy Reports that are produced three times a year. In addition, forecasts for the repo rate and a number of key variables are published after the other meetings.

”By publishing an interest rate path after each monetary policy meeting we hope to be able to make monetary policy clearer and simpler for outsiders to follow and understand,” says First Deputy Governor Irma Rosenberg.

As the Riksbank does not usually provide any new monetary policy information at other times than after monetary policy meetings, this is a means of improving communication of the considerations used as a basis for the monetary policy decisions.
“The Executive Board has also decided that with effect from next year it will hold six ordinary monetary policy meetings a year instead of the current seven. At present, sufficiently comprehensive new information is received four times a year in connection with the publication of the National Accounts figures. At the same time, there is a need to hold monetary policy meetings sufficiently often to enable us to conduct a well-balanced monetary policy. Our assessment is therefore that six meetings a year is adequate,” says Irma Rosenberg.