The First Central Bank

Sveriges Riksbank, a.k.a. The Bank of Sweden, was established in 1668 and is considered the world’s first central bank. The bank was founded by Johan Palmstruch, who had also founded Stockholms Banco, the first bank to issue banknotes in Europe.

 

According to the bank’s website: “one of the Riksbank’s tasks was to maintain price stability. Between 1668 and 1897, the law included a clause on price stability. The Riksbank was to “maintain the domestic coinage at its right and fair value”.

 

Read More: Sveriges Riksbank