A look at Riksbank’s Monetary Policy Committee Decisions

Bul Ekici of Riksbank has written a short note analyzing the decisions of various board members in the monetary policy meeting. They call it Executive Board meeting in Riksbank.

 It gives you good insights into how Riksbank board is constituted and takes decisions.

 The summary is:

  • A summary of the Executive Board’s composition and voting patterns since 1999, among other data, reveals the following:
  • All in all, thirteen different members have served in the Executive Board, under three different Governors, in six different (complete) compositions.
  • At least one member has entered a reservation against an interest rate decision at approximately one-third of the 95 monetary policy meetings held.
  • On four occasions, voting has been completely even, with the final decision resting with the Governor’s deciding vote.
  • A Governor in office has never entered a reservation, but has always belonged to the majority.
  • Most members entering reservations have consistently done so in a certain manner in relation to the majority – they have consistently advocated either a higher or a lower interest rate. Only two members have entered reservations in both directions

 Not much differences between board members.

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