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

The Riksbank kept its repo rate unchanged at -0.35 percent and its programme of asset purchases at SEK 200 billion as expected on December 15th. To safeguard the resilience of the upturn in inflation, the board is highly prepared to make monetary policy even more expansionary, even between the ordinary monetary policy meetings. The policymakers deem that the repo rate will not be raised until CPIF inflation has stabilised around 2 percent during the first half of 2017. Interest Rate in Sweden averaged 3.48 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. Sweden Interest Rate - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-09-03 08:30 AM Riksbank Rate Decision -0.35% -0.35% -0.35% -0.35%
2015-10-28 08:30 AM Riksbank Rate Decision -0.35% -0.35% -0.35% -0.35%
2015-12-15 08:30 AM Riksbank Rate Decision -0.35% -0.35% -0.35% -0.35%
2016-02-11 08:30 AM Riksbank Rate Decision -0.35% -0.45% -0.45%
2016-04-20 08:30 AM Riksbank Rate Decision -0.25%
2016-07-05 08:30 AM Riksbank Rate Decision -0.25%

Sweden Holds Key Rate at -0.35%


The Riksbank kept its repo rate unchanged at -0.35 percent as expected on December 15th. The board is highly prepared to make monetary policy even more expansionary, in order to safeguard the resilience of the upturn in inflation.

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

Developments in the Swedish economy have been somewhat stronger thanexpected, while uncertainty remains globally. There has been an upward trend in inflation since last year, but it is not yet on a firm footing. To safeguard the resilience of the upturn in inflation, monetary policy needs to remain very expansionary. The Executive Board of the Riksbank has therefore decided to hold the repo rate unchanged at –0.35 percent. Purchases of government bonds will continue for the first six months of 2016 as was decided in October. The Board is also highly prepared to make monetary policy even more expansionary, even between the ordinary monetary policy meetings.

The Riksbank's very expansionary monetary policy is contributing to good growth, falling unemployment and an upward inflation trend. The sharp increase in the number of asylum seekers coming to Sweden is expected to lead to an increase in public expenditure, which will contribute to higher GDP growth and lower unemployment in the coming years. The consequences for monetary policy in the coming period are deemed to be minor, however.

There is now a broad economic upturn, there has been an upward trend in inflation throughout the year and inflation expectations have stabilised and begun to rise. The upturn in inflation is volatile, however, as is illustrated by the unexpectedly weak outcome for November. The fact that inflation is rising is still mainly due to the weak krona, which has contributed to a rise in the prices of imported goods and services. The contribution to inflation made by the depreciation of the krona is expected to decrease next year. In order to also support an upturn in more domestically-generated inflation, continued high levels of demand are therefore needed in the Swedish economy.

The Executive Board deems that the repo rate will not be raised until CPIF inflation has stabilised around 2 percent during the first half of 2017 and remains highly prepared to make monetary policy even more expansionary, even between the ordinary monetary policy meetings. The repo rate can be cut further, which is reflected in the repo rate path, and the Riksbank can purchase more securities. The Riksbank is also ready to intervene on the foreign exchange market if the upturn in inflation should be threatened as the result of a problematic market development, for example. Moreover, the Riksbank is prepared to launch a programme of lending to companies via the banks. 

Central Bank of Sweden | Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/15/2015 9:13:09 AM

Sweden Money Last Previous Highest Lowest Unit
Interest Rate -0.35 -0.35 8.91 -0.35 percent [+]
Interbank Rate -0.35 -0.35 13.13 -0.44 percent [+]
Money Supply M0 71536.00 70398.00 100763.00 69340.00 SEK Million [+]
Money Supply M3 2788678.00 2763441.00 2788678.00 987445.00 SEK Million [+]
Banks Balance Sheet 8929803.00 10350916.00 10464869.00 1784742.00 SEK Million [+]
Foreign Exchange Reserves 493738.00 493210.00 514222.00 34098.00 SEK Million [+]
Loans to Private Sector 1249133.00 1260636.00 1260636.00 344995.00 SEK Million [+]
Deposit Interest Rate 0.79 1.00 12.00 0.79 percent [+]
Central Bank Balance Sheet 673147.00 663377.00 725274.00 28957.00 SEK Million [+]
Loan Growth 7.50 7.35 13.12 2.04 Percent [+]
Money Supply M1 2289423.00 2258492.00 2289423.00 627592.00 SEK Million [+]
Money Supply M2 2728918.00 2694519.00 2728918.00 840564.00 SEK Million [+]




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