Riksbank Deputy Governor Lars E.O. Svensson will leave the Swedish central bank’s board when his term expires next month after failing to win backing for his calls for deeper interest rate cuts.
Sweden’s central bank raised its benchmark lending rate for a second time since July as policy makers try to steer the largest Nordic economy through the European Union’s biggest rebound.
Swedish voters will be able to influence their central bank’s mandate in September elections.
Sweden’s Riksbank kept its benchmark rate at a record low and repeated plans to put off tightening until July at the earliest after the government cut the economic growth outlook and said more stimulus was needed.
Sweden’s economy expanded faster than most analysts estimated in the third quarter as exports picked up and companies continued investing.
The Riksbank has topped transparency studies for almost a decade. Now, Scandinavia’s biggest bank is faulting policy makers for confusing markets.
Sweden’s Riksbank kept its main interest rate unchanged amid signs the largest Nordic economy will avoid a recession after policy makers across Europe stepped in to ease debt crisis concerns.
"It's good that there are people who take pretty big and broad responsibility for society and there are not that many of them."
- Annika Winsth on Oct 30, 2014