Sweden Interest Rate 1994-2014 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Sweden was last recorded at 0 percent. Interest Rate in Sweden averaged 3.64 Percent from 1994 until 2014, reaching an all time high of 8.91 Percent in July of 1995 and a record low of 0 Percent in October of 2014. Interest Rate in Sweden is reported by the Sveriges Riksbank.

      Forecast    
Sweden Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 8.91 0.00 1994 - 2014 percent Daily
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. Content for - Sweden Interest Rate - was last refreshed on Saturday, December 20, 2014.


Sweden Leaves Monetary Policy Unchanged


The Riksbank decided to leave the benchmark repo rate on hold at 0 percent in December, saying inflation is too low. Policymakers also said further expansionary measures were being prepared.

Excerpts from the Statement by the Executive Board of the Riksbank:

For inflation to rise towards the target sufficiently quickly and to reduce the risk of longer-run inflation expectations continuing to fall, monetary policy needs to become more expansionary. The Executive Board of the Riksbank therefore assesses that the repo rate needs to remain at zero percent for a slightly longer period than was forecast earlier. It is not until the second half of 2016, when CPIF inflation is close to 2 percent, that it will be appropriate to begin raising the repo rate. 

If monetary policy needed to become even more expansionary, this would primarily entail continuing to postpone a first increase of the repo-rate. The Riksbank is also preparing further measures that can be used to make monetary policy more expansionary. Such measures, were they necessary, could be presented at the next monetary policy meeting.

The low repo rate, together with rising demand from abroad, is expected to lead to an increase in economic activity in Sweden in the years immediately ahead. Companies will then be able to raise their prices and in this way pass on their cost increases to consumers to a greater extent. This should mean that inflation rises. The new repo-rate path means that the repo rate will remain at zero per cent until CPIF inflation is close to 2 per cent. The assessment is that it will be appropriate to begin increasing the repo rate in the second half of 2016.

If monetary policy needed to become even more expansionary, this would primarily entail continuing to postpone a first increase of the repo-rate. The Riksbank is also preparing further measures that can be used to make monetary policy more expansionary. Such measures, were they necessary, could be presented at the next monetary policy meeting.

Riksbank | Joana Taborda | joana.taborda@tradingeconomics.com
12/16/2014 9:14:59 AM


Recent Releases

Sweden Cuts Interest Rate to 0%
At its October 28th meeting, the Riksbank decided to cut the repo rate by 0.25 percentage points to zero percent, aiming to fight low inflation. It is the lowest rate on record and it is not expected to rise until the middle of 2016. Published on 2014-10-28

Swedish Central Bank Maintains Rate
At its September, 4th meeting, the Executive Board of the Riksbank decided to maintain the repo rate at 0.25 percent, as inflation has been a bit higher than expected in recent months. The central bank also said that rate increases are not expected to begin until the end of 2015. Published on 2014-09-04


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-04 08:30 AM
Riksbank Rate Decision 
0.25% 0.25% 0.25% 0.25%
2014-10-28 08:30 AM
Riksbank Rate Decision 
0.0% 0.25% 0.1% 0.1%
2014-12-16 08:30 AM
Riksbank Rate Decision 
0% 0.0% 0% 0%
2015-02-13 08:30 AM
Riksbank Rate Decision 
-0.08%
2015-04-09 08:30 AM
Riksbank Rate Decision 
-0.02%
2015-07-03 08:30 AM
Riksbank Rate Decision 


Sweden Money Last Previous Highest Lowest Unit
Interest Rate 0.00 0.00 8.91 0.00 percent [+]
Interbank Rate 0.27 0.26 11.01 0.25 percent [+]
Money Supply M0 77946.00 78106.00 100883.00 6076.00 SEK Million [+]
Money Supply M3 2431604.00 2405661.00 2431604.00 45623.00 SEK Million [+]
Foreign Exchange Reserves 456976.00 457541.00 457541.00 34098.00 SEK Million [+]
Loans to Private Sector 1200165.00 1188743.00 1235649.00 344995.00 SEK Million [+]
Banks Balance Sheet 9490525.00 9231392.00 9490525.00 1784742.00 SEK Million [+]
Central Bank Balance Sheet 471715.00 472836.00 725274.00 28957.00 SEK Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Dec/14 2.50 17.50 2.50 percent [+]
Brazil 11.75 Dec/14 11.25 45.00 7.25 percent [+]
Canada 1.00 Dec/14 1.00 16.00 0.25 percent [+]
China 5.60 Nov/14 6.00 10.98 5.31 percent [+]
Euro Area 0.05 Dec/14 0.05 4.75 0.05 percent [+]
France 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Germany 0.05 Dec/14 0.05 4.75 0.05 percent [+]
India 8.00 Dec/14 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Dec/14 7.75 12.75 5.75 percent [+]
Italy 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Japan 0.00 Dec/14 0.00 9.00 0.00 percent [+]
Mexico 3.00 Dec/14 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Russia 17.00 Dec/14 9.50 17.00 5.00 percent [+]
South Korea 2.00 Dec/14 2.00 5.25 2.00 percent [+]
Spain 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Switzerland -0.25 Dec/14 0.00 3.50 -0.25 percent [+]
Turkey 8.25 Nov/14 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Dec/14 0.50 17.00 0.50 percent [+]
United States 0.25 Dec/14 0.25 20.00 0.25 percent [+]