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Sveriges Riksbank, or simply the Riksbanken, is the central bank of Sweden and is responsible for monetary policy.

It is the world’s oldest central bank. In 1668, the Riksdag, Sweden’s parliament, decided to found Riksens Ständers Bank (the Estates of the Realm Bank), which in 1867 received the name Sveriges Riksbank.

According to the Riksbank Act, the Riksbank shall “maintain price stability”. This shall be achieved by trying to keep inflation at a low and stable level.

The Riksbank shall also promote a “safe and efficient payments system” and be responsible for Sweden’s supply of banknotes and coins. It has the exclusive right to issue banknotes and coins.

The bank is led by an Executive Board of six members. This Board is appointed by the General Council of the Riksbank, which in turn is appointed by the Riksdag.

Riksbank became the first central bank to exit negative interest rates that were introduced over the last six years by several central banks as a countermeasure against rising inflation. The Swedish bank had introduced a negative interest rate policy (NIRP) in 2015.