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

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. Interest Rate in Sweden averaged 3.30 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 Reference Actual Previous Consensus Forecast (i)
2016-12-21 08:30 AM Riksbank Rate Decision -0.5% -0.5% -0.5% -0.5%
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%
2017-07-18 07:30 AM Riksbank Meeting Minutes




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.

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

Growth around the world is increasing in line with the Riksbank's earlier forecasts. The global economy is in a phase with increasingly strong industrial activity and rising global trade. However, considerable political uncertainty is prevailing in several parts of the world, creating risks for economic developments.

Swedish economic activity is good and is expected to strengthen further over the next few years. Inflation has shown a rising trend for some years, but it is now expected to take longer before it stabilises around 2 per cent. The collective agreements signed so far on the labour market indicate that cost pressures in the economy will rise more slowly than expected. The inflation forecast is somewhat lower for 2018 and 2019.

The Executive Board has decided to hold the repo rate unchanged at −0.50 per cent and to extend the purchases of nominal government bonds by SEK 7.5 billion and the purchases of real government bonds by SEK 7.5 billion. At the end of 2017, the purchases will thus amount to a total of SEK 290 billion, excluding reinvestments. Until further notice, maturities and coupon payments will also be reinvested in the government bond portfolio. The Executive Board moreover assesses that the repo rate needs to be held at the current low level for a quarter longer than was assumed in February. The first repo-rate increase is now expected to be made in the middle of 2018. The repo rate path also reflects the fact that there is still a greater probability of the rate being cut than of it being raised in the near term.

The Executive Board is still prepared to make monetary policy more expansionary if the upward trend in inflation were to be threatened and confidence in the inflation target weakened. All of the tools that the Riksbank has described earlier can as always be used if necessary.

Riksbank | Joana Taborda | joana.taborda@tradingeconomics.com
4/27/2017 7:44:21 AM



Sweden Money Last Previous Highest Lowest Unit
Interest Rate -0.50 -0.50 8.91 -0.50 percent [+]
Interbank Rate -0.50 -0.50 13.13 -0.63 percent [+]
Money Supply M0 56051.00 56540.00 100763.00 56051.00 SEK Million [+]
Money Supply M3 3135892.00 3070071.00 3135892.00 987445.00 SEK Million [+]
Banks Balance Sheet 13186990.00 13341925.00 13341925.00 1784742.00 SEK Million [+]
Foreign Exchange Reserves 526186.00 524899.00 547140.00 34098.00 SEK Million [+]
Loans to Private Sector 1323894.00 1322931.00 1351919.00 344995.00 SEK Million [+]
Deposit Interest Rate -1.25 -1.25 8.00 -1.25 percent [+]
Central Bank Balance Sheet 864011.00 854525.00 864011.00 28957.00 SEK Million [+]
Private Debt to GDP 269.85 270.13 274.89 186.73 percent [+]
Money Supply M1 2594610.00 2513691.00 2594610.00 627592.00 SEK Million [+]
Money Supply M2 3031836.00 2944067.00 3031836.00 840564.00 SEK Million [+]
Loan Growth 7.30 7.20 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 May 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 11.25 Apr/17
Russia 9.25 Apr/17
Turkey 8.00 Apr/17
Mexico 6.75 May/17
India 6.25 Apr/17
Indonesia 4.75 May/17
China 4.35 Apr/17
Australia 1.50 May/17
South Korea 1.25 May/17
United States 1.00 May/17
Canada 0.50 May/17
United Kingdom 0.25 May/17
Euro Area 0.00 May/17
France 0.00 May/17
Germany 0.00 May/17
Italy 0.00 May/17
Netherlands 0.00 May/17
Spain 0.00 May/17
Japan -0.10 Apr/17
Switzerland -0.75 May/17