The Governing Council welcomes the ongoing work and urges further specific and decisive steps to complete the banking union and the capital markets union. We are now at your disposal for questions. 3/3  BIS central bankers' speeches
In other words, the result is a secure credit supply and expansionary monetary policy. Figure 1. Yields on 5-year bonds Per cent  Sources: Macrobond and the Riksbank  1  Read about all the measures the Riksbank has taken on our website. Information on the measures is updated weekly. See https://www.riksbank.se/en-gb/press-and-published/updates-on-the-riksbank-and-the-coronaviruspandemic/the-riksbanks-measures-in-connection-with-the-corona-pandemic/. 2 [6]  Figure 1 shows the development in yields on different types of bond on the Swedish market. The economic crisis initially meant that bond yields rose. This was not a desirable development. But they have recently begun to fall back. To me, it is obvious that the Riksbank’s expansionary monetary policy measures have pushed down market rates. And if necessary, the Riksbank will do more. Inflation statistics difficult to interpret Under normal circumstances, monetary policy can be based on the analysis of a long line of economic quantities. As monetary policy is conducted with an inflation target, the statistics on inflation outcomes become particularly important. During the economic crisis an obvious problem with inflation statistics has been that there are no prices for the goods and services that cannot be consumed at present. This of course creates problems when calculating the consumer price index (CPI). Statistic Sweden (SCB) have clearly described their methods.2 For products that have no prices, they use the price development on similar products that do have prices. For products that do not have “similar” products, such as various types of foreign air travel, the annual percentage change in total CPI is used.