Podcasts




History of the world's first central bank

Duration: 0:01:52

Filled with stories and myths, the history of mankind is intertwined with the evolution of economies. From ancient civilizations to modern economic systems, the roots of economic theory can be traced back to some of the earliest banks in the world, such as the one in Italy which dates back over a hundred years. The first central bank was established in Sweden and played a crucial role in issuing currency and combating counterfeit money. The Swedish currency remained backed by gold until 1931, symbolizing strength and security. The bank was even awarded the Nobel Prize in Economic Sciences in 1968. Known for its financial stability, the bank continues to innovate, using negative interest rates to stimulate the economy and promoting digital currency to reduce the use of paper and metal cash.