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

The central bank of Sweden held its benchmark interest rate at -0.5 percent on September 7th, 2017, as widely expected, saying monetary policy needs to remain expansionary for inflation to continue to be close to 2 per cent. The central bank added that it does not expect to raise the repo rate until the middle of 2018 and that purchases of government bonds will continue during the second half of 2017, as decided in April. Interest Rate in Sweden averaged 3.25 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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Sweden Holds Repo Rate at -0.5%


The central bank of Sweden held its benchmark interest rate at -0.5 percent on September 7th, 2017, as widely expected, saying monetary policy needs to remain expansionary for inflation to continue to be close to 2 per cent. The central bank added that it does not expect to raise the repo rate until the middle of 2018 and that purchases of government bonds will continue during the second half of 2017, as decided in April.

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

The economic signals from abroad are good, but global inflation remains subdued. Compared with the forecast in July, there are now expectations of a somewhat more expansionary monetary policy in many countries that are important to Sweden.

Economic activity in Sweden is strong; GDP grew rapidly in the second quarter and the employment rate is at a historically high level. Inflation has continued to rise and in recent months been higher than expected. The outcomes are partly explained by temporary factors, but even disregarding this, inflation has been stronger than expected.

However, it has taken time and a great deal of support from monetary policy to bring up inflation and inflation expectations. Although there has been a broader increase in prices for services recently, economic activity needs to continue to make an impact on price development. This is underlined by, for instance, weak growth in cost pressures so far this year. It is also important for the development of inflation that the krona exchange rate does not appreciate too quickly. This could happen if, for example, the Riksbank's monetary policy deviates too far from that of other countries.

Given this, the Executive Board of the Riksbank has decided to hold the repo rate unchanged at -0.50 per cent and does not expect to raise it until the middle of 2018. Purchases of government bonds will continue during the second half of 2017, as decided in April. At the end of the year, the purchases of government bonds will thus amount to a total of SEK 290 billion, excluding reinvestments. Maturities and coupon payments will be reinvested until further notice. CPIF inflation is expected to be close to 2 per cent in the coming years, with continued support from monetary policy.

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 Ferreira | joana.ferreira@tradingeconomics.com
9/7/2017 7:47:33 AM



Calendar GMT Actual Previous Consensus TEForecast
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% -0.5% -0.5%


Sweden Money Last Previous Highest Lowest Unit
Interest Rate -0.50 -0.50 8.91 -0.50 percent [+]
Interbank Rate -0.41 -0.41 13.13 -0.63 percent [+]
Money Supply M0 54910.00 55326.00 100763.00 54910.00 SEK Million [+]
Money Supply M3 3196295.00 3218968.00 3218968.00 987445.00 SEK Million [+]
Banks Balance Sheet 13021264.00 13117946.00 13341925.00 1784742.00 SEK Million [+]
Foreign Exchange Reserves 509436.00 530228.00 547140.00 34098.00 SEK Million [+]
Loans to Private Sector 1348541.00 1338653.00 1351919.00 344995.00 SEK Million [+]
Deposit Interest Rate -1.25 -1.25 8.00 -1.25 percent [+]
Central Bank Balance Sheet 843540.00 889191.00 889191.00 28957.00 SEK Million [+]
Private Debt to GDP 263.47 268.81 274.89 186.73 percent [+]
Loan Growth 7.00 7.10 13.12 2.04 percent [+]
Money Supply M1 2657120.00 2651988.00 2657120.00 627592.00 SEK Million [+]
Money Supply M2 3089508.00 3085090.00 3089508.00 840564.00 SEK Million [+]


Sweden Interest Rate

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 2017.

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




interest rate by Country

Last
Russia 8.50 Sep/17
Brazil 8.25 Sep/17
Turkey 8.00 Sep/17
Mexico 7.00 Aug/17
India 6.00 Aug/17
China 4.35 Aug/17
Indonesia 4.25 Sep/17
Australia 1.50 Sep/17
South Korea 1.25 Aug/17
United States 1.25 Sep/17
Canada 1.00 Sep/17
United Kingdom 0.25 Sep/17
Euro Area 0.00 Sep/17
France 0.00 Sep/17
Germany 0.00 Sep/17
Italy 0.00 Sep/17
Netherlands 0.00 Sep/17
Spain 0.00 Sep/17
Japan -0.10 Sep/17
Switzerland -0.75 Sep/17