Riksbank criticized for acting too slowly in raising interest rates and thus slowing inflation in 2022. In autumn 2021, Swedish consumer prices began to rise rapidly.
In January 2022, inflation began to approach four per cent. Only at the end of April 2022 did the Riksbank raise its key interest rate by 0.25 percentage points to cool the economy and slow the rise in prices. The next interest rate hike came in June 2022 – when inflation was over eight per cent and the inflation curve pointed straight upwards.