Sweden Interest Rate 1994-2015 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Sweden was last recorded at -0.35 percent. Interest Rate in Sweden averaged 3.53 percent from 1994 until 2015, reaching an all time high of 8.91 percent in July of 1995 and a record low of -0.35 percent in July of 2015. Interest Rate in Sweden is reported by the Sveriges Riksbank.

Sweden Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
-0.35 -0.35 8.91 -0.35 1994 - 2015 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. Content for - Sweden Interest Rate - was last refreshed on Thursday, September 3, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-03-18 01:00 PM -0.25% -0.1%
2015-04-29 08:30 AM -0.25% -0.25% -0.4% -0.25%
2015-07-02 08:30 AM -0.35% -0.25% -0.25% -0.25%
2015-09-03 08:30 AM -0.35% -0.35% -0.35%
2015-10-27 08:30 AM -0.35%
2015-12-14 08:30 AM -0.35%

Swedish Central Bank Unexpectedly Cuts Rate

The Central Bank of Sweden lowered its repo rate by 0.1 p.p. to -0.35 percent on July 2nd and expanded its programme of asset purchases by SEK 45 Billion, as measures to support the upturn in inflation.

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

The Riksbank's expansionary monetary policy is having an effect and inflation is rising. In May, CPIF inflation was 1.0 per cent. Prices of goods and food are increasing in line with historical averages, while the rate of price increase on services is rising from a low level. At the same time as inflation is rising, economic activity is continuing to strengthen and the situation on the labour market is gradually improving. CPIF inflation is expected to be close to 2 per cent from the end of 2015.

International growth is also rising. In the euro area, economic activity is strengthening, but the events in Greece over the past few days have substantially increased the uncertainty. The consequences of the situation in Greece for the euro area as a whole and for Sweden are difficult to judge. Since the Riksbank's most recent decision in April, the krona has strengthened more than expected against several currencies. If the exchange rate were to be too strong in relation to the Riksbank's forecast, prices of imported goods would increase more slowly and demand in the Swedish economy would fall. Such a development would risk breaking the upturn in inflation that has now begun.

In this uncertain environment, monetary policy needs to give more support to ensure that inflation continues to rise towards the target of 2 per cent. The Executive Board of the Riksbank has therefore decided to cut the repo rate by 0.10 percentage points to -0.35 per cent and to extend the purchases of government bonds by a further SEK 45 billion until the end of the year. The purchases decided upon in April are expected to be concluded in September, at which point the new purchases will be initiated. The repo rate is expected to be around -0.35 per cent for just over a year. The repo-rate path reflects the fact that it is possible to cut the repo rate further. The expansionary monetary policy underlines the Riksbank's aim to safeguard the role of the inflation target as nominal anchor for price-setting and wage-formation.

The Riksbank still has a high level of preparedness to make monetary policy even more expansionary if necessary, even between the ordinary monetary policy meetings. The repo rate can be cut further and the government bond purchases can be extended. The Riksbank is also prepared to intervene on the foreign exchange market if the upturn in inflation is threatened as the result of, for instance, a very problematic development in the markets. The purchase of other types of securities and the launch of a company lending programme via the banks may also come into question. 

Central Bank of Sweden | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/2/2015 11:03:12 AM

Recent Releases

Swedish Central Bank Leaves Rate on Hold
The Central Bank of Sweden kept its repo rate unchanged at -0.25 percent on April 29th and expanded its programme of asset purchases to SEK 40-50 Billion.
Published on 2015-04-29

Sweden Cuts Repo Rate to -0.25%
Central Bank of Sweden cut its key repo rate by 0.15 percentage point to -0.25 percent and expanded its programme of asset purchases to SEK30 Billion during an unscheduled meeting held on March 18th .
Published on 2015-03-18

Sweden Cuts Key Rate to -0.1%, Shifts to Asset Buying
Swedish central bank lowered its key repo rate by 10 bps to -0.1 percent on February 12th, aiming to tackle low inflation. Policymakers will also buy SEK 10 billion government bonds and said they are prepared to do more at short notice.
Published on 2015-02-12

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.
Published on 2014-12-16

Sweden Money Last Previous Highest Lowest Unit
Interest Rate -0.35 -0.35 8.91 -0.35 percent [+]
Interbank Rate -0.21 -0.21 11.01 -0.21 percent [+]
Money Supply M0 75176.00 75265.00 100883.00 6076.00 SEK Million [+]
Money Supply M3 2603299.00 2625806.00 2625806.00 45623.00 SEK Million [+]
Foreign Exchange Reserves 497032.00 496476.00 514222.00 34098.00 SEK Million [+]
Loans to Private Sector 1247726.00 1241927.00 1247726.00 344995.00 SEK Million [+]
Banks Balance Sheet 10406818.00 9965500.00 10406818.00 1784742.00 SEK Million [+]
Central Bank Balance Sheet 594354.00 589130.00 725274.00 28957.00 SEK Million [+]
Loan Growth 7.10 6.90 13.10 4.46 Percent [+]

Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Sep/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Sep/15 14.25 45.00 7.25 percent [+]
Canada 0.50 Aug/15 0.75 16.00 0.25 percent [+]
China 4.60 Aug/15 4.85 10.98 4.60 percent [+]
Euro Area 0.05 Aug/15 0.05 4.75 0.05 percent [+]
India 7.25 Aug/15 7.25 14.50 4.25 percent [+]
Indonesia 7.50 Aug/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Aug/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Aug/15 3.00 9.25 3.00 percent [+]
Russia 11.00 Aug/15 11.00 17.00 5.00 percent [+]
South Korea 1.50 Aug/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Aug/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Aug/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Aug/15 0.50 17.00 0.50 percent [+]
United States 0.25 Aug/15 0.25 20.00 0.25 percent [+]