Sweden Interest Rate

The benchmark interest rate in Sweden was last recorded at 0.75 percent. Interest Rate in Sweden is reported by the Sveriges Riksbank. Interest Rate in Sweden averaged 3.70 Percent from 1994 until 2014, reaching an all time high of 8.91 Percent in July of 1995 and a record low of 0.25 Percent in July of 2009. In Sweden, interest rates decisions are taken by the Executive Board of the Central Bank of Sweden (The Riksbank). The main interest rate is the repo rate which is the rate of interest at which banks can borrow or deposit funds at the Riksbank for a period of seven days. This page provides - Sweden Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.75 0.75 8.91 0.25 0.75 | 2014/05 1994 - 2014 Percent Monthly

TO

Sweden Interest Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-10-24 08:30 AM Sweden
Riksbank Rate Decision
1.00% 1.00% 1% 1%
2013-12-17 08:30 AM Sweden
Riksbank Rate Decision
0.75% 1.0% 0.75% 1%
2014-02-13 08:30 AM Sweden
Riksbank Rate Decision
0.75% 0.75% 0.75%
2014-04-09 08:30 AM Sweden
Riksbank Rate Decision
0.75% 0.75% 0.75% 0.75%
2014-07-03 08:30 AM Sweden
Riksbank Rate Decision
0.75% 0.75%
2014-09-04 08:30 AM Sweden
Riksbank Rate Decision
0.75%
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Money Last Previous Highest Lowest Forecast Unit
Foreign Exchange Reserves 432342.00 2014-03-31 418758.00 440904.00 34098.00 428273.96 2014-04-30 SEK Million [+]
Interbank Rate 0.91 2014-04-30 0.93 11.01 0.48 1.00 2014-05-31 Percent [+]
Loans to Private Sector 1156814.00 2014-02-28 1148031.00 1235649.00 344995.00 1155441.38 2014-03-31 SEK Million [+]
Money Supply M0 77382.00 2014-02-28 78114.00 100883.00 6076.00 78505.24 2014-03-31 SEK Million [+]
Money Supply M3 2336713.00 2014-02-28 2359022.00 2359022.00 45623.00 2338469.29 2014-03-31 SEK Million [+]
Interest Rate 0.75 2014-04-09 0.75 8.91 0.25 0.75 2014-05-31 Percent [+]
[+]


Swedish Central Bank Holds Rates

At its April 9th, 2014 meeting, the Executive Board of the Riksbank decided to leave the repo rate unchanged at 0.75 percent. Although the repo rate is expected to remain at this low level for around a year, the central bank said it now saw a greater possibility that it may need to cut rates in the near-term as inflation remains weak.

Excerpt from the statement by the Executive Board of the Riksbank:

Economic activity is clearly strengthening, but inflation is expected to remain low for some time. Monetary policy needs to remain expansionary for inflation to rise towards the target. The Executive Board of the Riksbank has therefore decided to hold the repo rate unchanged at 0.75 per cent. The repo rate is expected to remain at this low level for around a year. It is considered appropriate to wait until inflation picks up before beginning to raise the repo rate. The repo-rate path has been adjusted down somewhat and reflects a greater probability of a repo-rate cut in the near term compared with the assessment made in February.

Although economic activity is clearly strengthening, inflation is expected to remain low for the rest of the year. Compared with the assessment made in February, the inflation forecast has been revised down somewhat, primarily for the coming months. Price increases have been low for some time relative to developments in companies' costs. However, as economic activity strengthens, companies are expected to be able to raise their prices to a greater extent. CPIF inflation is expected to begin to rise towards the end of the year and to be close to 2 per cent during the latter part of 2015.

Monetary policy needs to remain highly expansionary to contribute to inflation rising towards the target. Although inflation has been somewhat lower than expected, only a minor revision has been made to the inflation forecast. The Executive Board of the Riksbank has therefore decided to hold the repo rate unchanged at 0.75 per cent. It is judged appropriate to begin gradually raising the repo rate in one year's time, when inflation has picked up.

As economic activity strengthens, inflationary pressures are expected to rise. However, it is uncertain how quickly inflation will rise, particularly as it has been weaker than expected for some time now. The repo-rate path has therefore been adjusted down somewhat and reflects a greater probability of a repo-rate cut in the near term compared with the assessment made in February.

Riksbank | Joana Taborda | joana.taborda@tradingeconomics.com
4/9/2014 9:18:00 AM

RECENT RELEASES

Swedish Monetary Policy Unchanged in February
At its February 13th, 2014 meeting, the Executive Board of the Riksbank has decided to leave the repo rate on hold at 0.75 percent, after last meeting’s cut. The Bank said that the prospects for 2014 are good, economic activity is strengthening and the labour market is improving, but inflation is expected to be low over the coming yea, thus no rate hikes are expected until the beginning of 2015. Published on 2014-02-13

Swedish Central Bank Lowers Repo Rate to 0.75%
In its December 17th meeting, the Executive Board of the Riksbank has decided to cut the repo rate by 0.25 percentage points to 0.75 percent. The Board cited low inflation to cut the rate to its lowest level since September of 2010. Published on 2013-12-17


Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


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