In 2009, the Swedish central bank, the Riksbank, surprised many when it set a rate of -0.25%.

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The Riksbank, Sweden's central bank , raised its key interest rate by a quarter point, to 3%.

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Starting in 1969, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel also has been awarded.

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The peace prize is the last of the awards to be announced this week and the Riksbank prize will be awarded Monday.

CNN: Laureates to Nobel winners: Prepare for 'lightning bolt'

The Riksbank, the world's oldest central bank, has a trick or two to teach the European Central Bank (ECB), one of the world's newest.

ECONOMIST: Keeping the krona | The

"To safeguard financial stability in Sweden and ensure the smooth functioning of the financial markets, the Riksbank has therefore decided to grant liquidity assistance to Kaupthing Sverige, " it said in a statement.

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The European Central Bank and the Bank of England both took part in the coordinated action Wednesday, which also included the U.S. Federal Reserve, the Bank of Canada, the Swiss National Bank and the Swedish Riksbank.

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