Swedish central bank Governor Lars Heikensten announced Thursday he will resign after the government nominated him to serve on the European Court of Auditors.
Heikensten, who has headed the Riksbank since 2003, said he would step down by March 1, the AP reports.
"Naturally, it has not been an easy decision to leave the Riksbank," Heikensten said in a statement. "However, the decision was made easier by the fact that the situation in the Swedish economy today feels stable."
A replacement was not immediately announced. Heikensten said he was looking forward to working for the European court. "If I am approved I will have excellent opportunities to learn new things and hopefully also to contribute to the progress within the EU," he said. AM