Sweden Interest Rate  1994-2017 | Data | Chart | Calendar | Forecast

The central bank of Sweden left its benchmark repo rate steady at -0.5 percent on July 4th, 2017 as widely expected, saying economic activity is strong and inflation is approaching the 2 percent target. The bond-buying programme was also left unchanged. Policymakers added that the first rate increase is not expected to be made until the middle of 2018. Interest Rate in Sweden averaged 3.27 percent from 1994 until 2017, 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.

Sweden Interest Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-02-15 08:30 AM Riksbank Rate Decision -0.5% -0.5% -0.5% -0.5%
2017-04-27 07:30 AM Riksbank Rate Decision -0.5% -0.5% -0.5% -0.5%
2017-07-04 07:30 AM Riksbank Rate Decision -0.5% -0.5% -0.5% -0.5%
2017-09-07 07:30 AM Riksbank Rate Decision -0.5% -0.5%




Sweden Leaves Monetary Policy Unchanged


The central bank of Sweden left its benchmark repo rate steady at -0.5 percent on July 4th, 2017 as widely expected, saying economic activity is strong and inflation is approaching the 2 percent target. The bond-buying programme was also left unchanged. Policymakers added that the first rate increase is not expected to be made until the middle of 2018.

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

International economic activity is increasing in line with the Riksbank's forecasts. The risk of setbacks has declined, although there is still economic and political uncertainty in many parts of the world. Global inflationary pressures are still subdued and monetary policy abroad is expansionary.

The overall picture of the economic outlook and inflation prospects remains largely unchanged since April. Continued expansionary monetary policy is needed to stabilise inflation around 2 per cent. The Executive Board has therefore decided to hold the repo rate unchanged at −0.50 per cent. The first rate increase is expected to be made in the middle of 2018, which is the same assessment as in April. The purchases of government bonds will continue in the second half of 2017, as decided in April, and at the end of the year total purchases of government bonds will amount to SEK 290 billion, excluding reinvestments. Maturities and coupon payments will be reinvested until further notice.

The fact that inflation has recently been slightly higher than expected and that the risks of setbacks abroad are thought to have decreased makes it less likely than before that the Riksbank will cut the repo rate in the near term. This does not rule out repo rate cuts in the period ahead. Just as before, the Executive Board is prepared to implement further monetary policy easing if necessary to stabilise inflation and safeguard the inflation target. All of the tools that the Riksbank has described earlier can, as always, be used if necessary.

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 rates at the same time contribute to increasing the risks linked to high and rising household indebtedness. To achieve long-term sustainable development in the Swedish economy, these risks need to be managed via targeted measures within housing policy, taxation policy and macroprudential policy.

Riksbank | Joana Taborda | joana.taborda@tradingeconomics.com
7/4/2017 7:51:03 AM


Recent Releases

Sweden Keeps Key Rate At -0.5%, Extends Bond Buying
The central bank of Sweden left the benchmark repo rate at -0.5 percent on April 27th, 2017 as widely expected and extended the purchases of government bonds by SEK 15 billion during the second half of 2017. Policymakers said economic activity in Sweden is increasingly strong, but assess that it will take longer before inflation stabilizes around 2 percent. The repo rate is now not expected to be raised until mid-2018, which is slightly later than in the previous forecast.
Published on 2017-04-27

Sweden Holds Repo Rate at -0.5%
Sweden's central bank held its benchmark repo rate at -0.5 percent on February 15th, 2017, as widely expected, saying a continued strong level of economic activity and a krona that does not appreciate too rapidly are required for inflation to stabilise around the 2 percent target. Policymakers added that there is still a greater probability that the rate will be cut than that it will be raised in the near term and that purchases of government bonds will continue for the first six months of 2017, as was decided in December.
Published on 2017-02-15

Sweden Holds Repo Rate At -0.5%, Extends QE
Sweden's central bank held its benchmark repo rate at -0.5 percent on December 21st, 2016, as widely expected, and expanded its programme of asset purchases by SEK 30 billion during the first six months of 2017, saying monetary policy needs to remain very expansionary for inflation to rise towards the 2 percent target. Policymakers added that there is a greater probability that the rate will be cut than that it will be raised in the near term and that increases in the repo rate are not expected to start until the beginning of 2018.
Published on 2016-12-21

Sweden Holds Key Rate at -0.5%
The central bank of Sweden left its benchmark repo rate unchanged at -0.5 percent on October 27th 2016 as widely expected, saying the upturn in the Swedish economy is continuing, but it will take longer for the inflation to reach the 2 percent target. The SEK 245 billion quantitative easing programme was left steady but the central bank added that it is prepared to extend the purchases of government bonds and that the probability of a rate cut increased.
Published on 2016-10-27



Sweden Money Last Previous Highest Lowest Unit
Interest Rate -0.50 -0.50 8.91 -0.50 percent [+]
Interbank Rate -0.46 -0.47 13.13 -0.63 percent [+]
Money Supply M0 55523.00 55902.00 100763.00 55523.00 SEK Million [+]
Money Supply M3 3137521.00 3150547.00 3150547.00 987445.00 SEK Million [+]
Banks Balance Sheet 13311297.00 13127406.00 13341925.00 1784742.00 SEK Million [+]
Foreign Exchange Reserves 505333.00 526314.00 547140.00 34098.00 SEK Million [+]
Loans to Private Sector 1343407.00 1341809.00 1351919.00 344995.00 SEK Million [+]
Deposit Interest Rate -1.25 -1.25 8.00 -1.25 percent [+]
Central Bank Balance Sheet 859567.00 874339.00 874339.00 28957.00 SEK Million [+]
Private Debt to GDP 263.26 268.81 274.89 186.73 percent [+]
Money Supply M1 2593249.00 2586960.00 2594610.00 627592.00 SEK Million [+]
Money Supply M2 3030922.00 3027781.00 3031836.00 840564.00 SEK Million [+]
Loan Growth 6.90 7.10 13.12 2.04 percent [+]


Sweden Interest Rate Notes

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 July of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-0.50 -0.50 8.91 -0.50 1994 - 2017 percent Daily



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