Sweden Interest Rate  1994-2016 | Data | Chart | Calendar | Forecast

The central bank of Sweden left its benchmark repo rate unchanged at -0.5 percent on September 7th 2016 as widely expected, saying the inflation is rising and the economy is developing strongly but considerable uncertainty abroad still persists. Policymakers added that most likely the rates won't be raised until the second half of next year. Interest Rate in Sweden averaged 3.39 percent from 1994 until 2016, reaching an all time high of 8.91 percent in July of 1995 and a record low of -0.50 percent in February of 2016. Interest Rate in Sweden is reported by the Sveriges Riksbank.

Sweden Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
-0.50 -0.50 8.91 -0.50 1994 - 2016 percent Daily
In Sweden, benchmark interest rate is set 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 the latest reported value for - Sweden Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Sweden Interest Rate - actual data, historical chart and calendar of releases - was last updated on September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-21 07:30 AM Riksbank Rate Decision -0.50% -0.50% -0.50% -0.50%
2016-07-06 07:30 AM Riksbank Rate Decision -0.50% -0.50% -0.50% -0.50%
2016-09-07 07:30 AM Riksbank Rate Decision -0.5% -0.5% -0.5% -0.5%
2016-10-26 07:30 AM Riksbank Rate Decision -0.5% -0.5%
2016-12-20 08:30 AM Riksbank Rate Decision -0.5%

Sweden Leaves Key Rate Steady at -0.5%


The central bank of Sweden left its benchmark repo rate unchanged at -0.5 percent on September 7th 2016 as widely expected, saying the inflation is rising and the economy is developing strongly but there's still considerable uncertainty abroad. Policymakers added that will likely not start raising rates until the second half of next year.

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

The international recovery is proceeding at a moderate rate. Economic policy uncertainty continues to be high, among other reasons due to the result of the British referendum. Economic signals following the referendum result have not been clear-cut and it is still too early to draw any clear conclusions regarding the effects.

Supported by the expansionary monetary policy, the Swedish economy has strengthened rapidly and activity is expected to continue to be strong over the next few years. CPIF inflation has shown a rising trend since 2014 and is now just below 1.5 per cent. The situation on the labour market has continued to improve and unemployment is falling. These developments will continue to have an effect on inflation with some time lag. Conditions are thus good for a continued rise in inflation.

The prospects for economic activity and inflation in Sweden remain largely unchanged since the monetary policy meeting in July and now, like then, the assessment is that a continued expansionary monetary policy is needed to maintain the rising trend in inflation.

Not until the second half of 2017 does the Executive Board consider it to be appropriate to begin slowly increasing the repo rate, when inflation is expected to be close to 2 per cent. In accordance with previous decisions, purchases of nominal and real government bonds will continue so that these amount to SEK 245 billion at the end of 2016. Until further notice, maturities and coupon payments on the holdings in the government bond portfolio will be reinvested.

There are several factors that create uncertainty in the inflation forecast. These include international developments, among others the effects of the result of the British referendum and weaknesses in the European banking system. Another factor is the development of the krona. The Executive Board therefore remains, as before, highly prepared to make monetary policy even more expansionary if necessary, even between the ordinary monetary policy meetings. Monetary policy needs to be expansionary to safeguard the role of the inflation target as nominal anchor for price-setting and wage formation. But the low interest rate levels also entail risks, such as increased household indebtedness. To achieve long-term sustainable development in the Swedish economy, these risks need to be managed via targeted measures within macroprudential policy, housing policy and fiscal policy.

Riksbank | Joana Taborda | joana.taborda@tradingeconomics.com
9/7/2016 8:54:08 AM

Sweden Money Last Previous Highest Lowest Unit
Interest Rate -0.50 -0.50 8.91 -0.50 percent [+]
Interbank Rate -0.49 -0.51 13.13 -0.61 percent [+]
Money Supply M0 62728.00 63289.00 100763.00 62728.00 SEK Million [+]
Money Supply M3 2930550.00 2903463.00 2930550.00 987445.00 SEK Million [+]
Banks Balance Sheet 10242739.00 10061899.00 10464869.00 1784742.00 SEK Million [+]
Foreign Exchange Reserves 521194.00 515015.00 521194.00 34098.00 SEK Million [+]
Loans to Private Sector 1302047.00 1302129.00 1302129.00 344995.00 SEK Million [+]
Deposit Interest Rate -1.25 -1.25 8.00 -1.25 percent [+]
Central Bank Balance Sheet 789028.00 772887.00 789028.00 28957.00 SEK Million [+]
Private Debt to GDP 271.95 271.34 275.40 183.27 percent [+]
Money Supply M1 2398562.00 2376522.00 2398562.00 627592.00 SEK Million [+]
Money Supply M2 2841544.00 2814128.00 2841544.00 840564.00 SEK Million [+]
Loan Growth 7.50 7.60 13.12 2.04 percent [+]




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