Skopje, 31 July 2026
“One topic that has been much discussed recently is central bank independence, which is perhaps the most important factor to maintain trust and stability for monetary policy. The reason for delegating monetary policy to an independent central bank is that central banks that make their decisions independently find it easier to keep inflation low and stable in the long run.” This was pointed out by the Governor of the Sveriges Riksbank Erik Thedéen, in an interview for the National Bank publication “80 Years of Central Banking, Global Perspectives, Regional Cooperation and Future Challenges.”
Referring to central bank independence, Thedéen points out that there is solid legal and political support in Sweden, for the Riksbank to make independent decisions on monetary policy based on the framework established by the political system. He highlights that it is of key importance to keep this framework, indicating that when central banks go beyond their mandate it may erode the public trust and the democratic anchoring of their independence.
“Trust and support for the independence cannot be taken for granted. It must be constantly earned by the central bank by fulfilling its mandate, carrying out the tasks entrusted to it in a transparent, respectful and determined manner”, pointed out Thedéen.
As the National Bank of the Republic of North Macedonia marks 80 years of central, the Governor Thedéen congratulates on the anniversary. In the interview he assessed that the last fifteen years, marked with crises, have once again confirmed the key role of central banks in maintaining price, macroeconomic and financial stability, which remain their main objectives.
The interview with Erik Thedéen is part of the publication “80 Years of Central Banking: Global Perspectives, Regional Cooperation and Future Challenges”, marking 80 years of central banking in the country. The publication is part of a broader communication project that includes a series of thematic interviews with current and former governors of central banks, senior officials of international financial institutions and representatives of international central banking organizations.
The full interview is available at the following link: https://www.nbrm.mk/ns-newsarticle-intervju-so-erik-tedeen-guverner-na-svedskata-centralna-banka-riksbank-en.nspx
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