Word: riksbank
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...complainers were grumbling mostly about governmental action designed to stop the creep-e.g., the U.S. tight-money policies (see BUSINESS). In France and Japan, there were real outcries against import controls, in India against present wage ceilings in nationalized factories. When the chairman of Sweden's Riksbank (roughly equivalent to the U.S.'s Federal Reserve) increased the discount rate to 5% last month, Sweden's Socialist-Agrarian government, sensitive to popular pressures, kicked the banker...
Sweden's currency management is a very conservative affair. The "manager" is the Swedish Riksbank's Governor Ivar Rooth, who has far fewer powers than the U. S. Federal Reserve now has. Studious, young (46) Governor Rooth's first objectives were to prevent inflation and keep prices stable inside Sweden. By May 1932. with inflation averted, Governor Rooth attacked his third objective-to raise the level of wholesale prices slowly and firmly, without increasing the cost of living. He cared nothing for what foreigners were willing to pay outside for Swedish kronor, except as foreign exchange affected...
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