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



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



interest rate by Country

Last
Brazil 10.25 Jun/17
Russia 9.00 Jun/17
Turkey 8.00 Jun/17
Mexico 7.00 Jun/17
India 6.25 Jun/17
Indonesia 4.75 Jul/17
China 4.35 Jun/17
Australia 1.50 Jul/17
South Korea 1.25 Jul/17
United States 1.25 Jun/17
Canada 0.75 Jul/17
United Kingdom 0.25 Jun/17
Euro Area 0.00 Jul/17
France 0.00 Jul/17
Germany 0.00 Jul/17
Italy 0.00 Jul/17
Netherlands 0.00 Jul/17
Spain 0.00 Jul/17
Japan -0.10 Jul/17
Switzerland -0.75 Jun/17