We go to the banks. In the autumn of 1992 the Riksbank, Sweden's central bank, raised its marginal rate to 500 per cent to defend the krona. Johan is a fictional wage earner; his worry should not be read as historical testimony.
How does a financial crisis reach a kitchen table?
The marginal rate was not the ordinary mortgage rate households paid. Source: Sveriges Riksbank.
Source: Sveriges Riksbank (the central bank) · Räntan 500 % – kronan flyter ↗
Found a mistake in this chapter?
What actually happened in 1992? — in the 3D model ↗