Europe

Sveriges Riksbank

Sounds hawkish lately +0.03

Speeches: 514
First speech: Jan 28, 1997
Latest speech: Jun 4, 2026
Tone vs coming rate moves: +0.20; rank correlation

Does the tone run ahead of the rate?

Speech tone over the previous three months, and the policy rate at the end of each month, on the same timeline. Hover over either chart to read the same month in both.

Speech tone

Policy rate

Latest speeches

Each speech's tone is the average over its sentences about policy, prices, rates or the economy. Open a speech to read it in full.

Date	Speech	Tone
Jun 4, 2026	Erik Thedéen: On the Sveriges Riksbank's high threshold for asset purchases Erik Thedéen	−0.13
May 22, 2026	Göran Hjelm: Monetary policy trade-offs and economic policy interactions in the face of supply shocks Göran Hjelm	+0.18
May 19, 2026	Aino Bunge: How can AI influence the economy and monetary policy? Aino Bunge	+0.03
Apr 22, 2026	Erik Thedéen: Monetary policy challenges in war related supply shocks Erik Thedéen	+0.17
Apr 20, 2026	Erik Thedéen: Vulnerabilities and resilience in a new world order Erik Thedéen	−0.18
Dec 4, 2025	Aino Bunge: Stablecoins and digital euro driven by digitalisation and geopolitics Aino Bunge	−0.08
Dec 1, 2025	Erik Thedéen: Independence must be earned every day Erik Thedéen	−0.01
Nov 27, 2025	Erik Thedéen: Inflation targeting in Sweden - lessons and challenges Erik Thedéen	+0.00
Nov 14, 2025	Anna Seim: Driving forces behind the development of the krona Anna Seim	+0.01
Sep 11, 2025	Erik Thedéen: The banks need to have more active liquidity management Erik Thedéen	−0.06
Jul 3, 2025	Erik Thedéen: The road to the EU savings and investment union - do's and don'ts Erik Thedéen	−0.00
Jul 2, 2025	Anna Seim: The role of alternative scenarios in monetary policy communication Anna Seim	+0.06
Jun 25, 2025	Anna Breman: Daring to think differently - on the Riksbank's monetary policy communication Anna Breman	+0.03
Jun 2, 2025	Erik Thedéen: Monetary policy communication in practice Erik Thedéen	+0.00
Feb 20, 2025	Anna Breman: How trade barriers affect the Swedish economy and inflation Anna Breman	+0.09
Feb 13, 2025	Per Jansson: Credibility and flexibility going forward Per Jansson	+0.13
Nov 26, 2024	Anna Seim: Neutral interest rate – meaning, limitations and assessment Anna Seim	−0.06
Nov 22, 2024	Erik Thedéen: Monetary policy in recent years and key issues ahead Erik Thedéen	+0.00
May 30, 2024	Anna Breman: Monetary policy decision-making Anna Breman	+0.03
May 23, 2024	Aino Bunge: Light at the end of the tunnel - time to start thinking about next time? Aino Bunge	+0.05
May 22, 2024	Erik Thedéen: Keynote address - OSC Dialogue 2024 Erik Thedéen	+0.19
May 20, 2024	Erik Thedéen: Reflections on the high inflation in recent years Erik Thedéen	+0.17
Apr 17, 2024	Martin Flodén: Communicating future monetary policy – reflections after eleven years as member of the Sveriges Riksbank's Executive Board Martin Flodén	−0.02
Apr 12, 2024	Anna Breman: The pyschology of inflation Anna Breman	+0.17
Jan 18, 2024	Erik Thedéen: A year with the new Riksbank Act Erik Thedéen	−0.05
Dec 20, 2023	Erik Thedéen: Lessons from a turbulent period Erik Thedéen	+0.12
Dec 12, 2023	Per Jansson: The gap in the monetary policy debate Per Jansson	−0.02
Sep 22, 2023	Erik Thedéen: The krona will strengthen in the long run Erik Thedéen	+0.01
May 23, 2023	Erik Thedéen: The links between monetary policy, financial stability and fiscal policy Erik Thedéen	−0.05
Mar 23, 2023	Erik Thedéen: My view of monetary policy Erik Thedéen	+0.13
Dec 14, 2022	Martin Flodén: My thoughts on the Sveriges Riksbank's asset purchases Martin Flodén	−0.15
Dec 9, 2022	Per Jansson: Monetary policy when inflation is too high – prerequisites and challenges Per Jansson	+0.14
Aug 31, 2022	Anna Breman: From 500 per cent to −0.5 per cent to − what is next? Anna Breman	+0.04
May 31, 2022	Stefan Ingves: Inflation targeting for nearly 30 years - a robust framework for all times? Stefan Ingves	+0.01
May 17, 2022	Henry Ohlsson: Monetary policy and inflation in times of war Henry Ohlsson	+0.14
May 6, 2022	Cecilia Skingsley: High inflation and a rising repo rate – what happens to the Riksbank's balance sheet? Cecilia Skingsley	−0.03
Dec 8, 2021	Per Jansson: Is it time to review the division of roles in macroeconomic policy? Per Jansson	−0.04
Oct 6, 2021	Cecilia Skingsley: Building payment systems for our grandchildren Cecilia Skingsley	−0.02
Sep 30, 2021	Martin Flodén: SWESTR – a fully transaction-based reference rate Martin Flodén	−0.06
May 31, 2021	Stefan Ingves: New financial environment - how is the Riksbank meeting the new challenges? Stefan Ingves	−0.07
May 20, 2021	Cecilia Skingsley: Adapting to new conditions – monetary policy freedom with responsibility Cecilia Skingsley	−0.05
Apr 12, 2021	Henry Ohlsson: Hidden wealth Henry Ohlsson	+0.10
Dec 16, 2020	Per Jansson: Some thoughts on the need for changes to inflation targeting Per Jansson	−0.04
Dec 12, 2020	Stefan Ingves: Monetary policy in a changing world Stefan Ingves	−0.08
Oct 7, 2020	Cecilia Skingsley: Post-pandemic monetary policy and the future of the interest rate as a policy tool Cecilia Skingsley	−0.11
Jun 17, 2020	Henry Ohlsson: Monetary policy during the economic crisis Henry Ohlsson	−0.02
Jun 10, 2020	Stefan Ingves: The monetary policy toolbox Stefan Ingves	−0.12
Apr 3, 2020	Stefan Ingves: The Riksbank's measures to mitigate the effects of the corona crisis on the economy Stefan Ingves	−0.35
Mar 3, 2020	Anna Breman: How the Sveriges Riksbank can contribute to climate policy Anna Breman	−0.08
Dec 3, 2019	Per Jansson: Contemplations of an interest-rate dove and inflation hawk Per Jansson	−0.06
Nov 13, 2019	Martin Flodén: Monetary policy in a changing world Martin Flodén	−0.31
Oct 15, 2019	Stefan Ingves: Swedish monetary policy experiences after the global financial crisis - what lessons are there for other countries? Stefan Ingves	−0.04
Sep 18, 2019	Stefan Ingves: Housing market challenges - weighing today against tomorrow Stefan Ingves	+0.13
Jun 12, 2019	Martin Flodén: Should the Riksbank's payment system be open 24/365? Martin Flodén	+0.01
May 13, 2019	Henry Ohlsson: Underlying inflation - for better or for worse Henry Ohlsson	+0.11
May 7, 2019	Stefan Ingves: Long-term trends - important elements in the monetary policy analysis Stefan Ingves	−0.11
Mar 26, 2019	Cecilia Skingsley: The effects of digitalisation on the economy Cecilia Skingsley	−0.02
Jan 28, 2019	Kerstin af Jochnick: Cautious steps towards higher interest rates Kerstin af Jochnick	+0.02
Dec 4, 2018	Per Jansson: Monetary policy in less favourable times - what are the options? Per Jansson	−0.12
Nov 22, 2018	Cecilia Skingsley: Considerations for a cashless future Cecilia Skingsley	−0.02

Next: Across all central banksHow tone lines up with rate moves at every bank tested, and whether it predicts them.