In addition, the Bank has made it clear that it would tolerate deviations from that target variable in either direction up to a level of 1 percentage point.1 This was said at least in the Quarterly Review 4/1998 of the Sveriges Riksbank.
On average, therefore, price movements in line with the objective of the Swedish Central Bank seem to be compatible with the top edge of the quantitative definition of price stability under the Eurosystem. Even so, on the way to that average, the Swedish target definition tolerates inflation rates exceeding the Eurosystem’s definition of price stability.