Lars E O Svensson: Assessment of monetary policy in Sweden in 2009

Assessments of monetary policy are important for several reasons. First, because the Riksbank has had an independent position in relation to the Riksdag and the government since 1999. This means, for instance, that the Executive Board makes the monetary policy decisions without seeking or taking instructions. The Riksbank’s independence gives its governors a great deal of power. It is therefore also important that the activities of the Riksbank can be monitored and assessed and that the governors can be called to account. A high level of transparency and regular assessments are also necessary to maintain the legitimacy of the Riksbank’s activities. Second, regular assessments also help to ensure that the Riksbank can develop its monetary policy analysis in the best possible way.