The Sveriges Riksbank raised its repo rate by 75 bps to 2.5 percent during its November meeting, bringing borrowing costs to the highest level since December 2008, to combat stubbornly high inflation. CPIF inflation was 9.3 percent in October, well above the central bank's target of 2 percent, and policymakers worried about the risk of the current high inflation becoming entrenched as inflationary pressures have been somewhat higher than expected. Looking ahead, the policy rate is expected to be raised further at the beginning of next year to then be just under 3 percent. Also, the Riksbank will allow its holdings of securities to decrease in line with maturities starting early next year. source: Sveriges Riksbank

Interest Rate in Sweden averaged 2.77 percent from 1994 until 2022, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.

Interest Rate in Sweden is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sweden Interest Rate is projected to trend around 3.00 percent in 2023 and 2.50 percent in 2024, according to our econometric models.

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Sweden Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-30 07:30 AM Riksbank Rate Decision 0.75% 0.25% 0.75% 0.5%
2022-09-20 07:30 AM Riksbank Rate Decision 1.75% 0.75% 1.5% 1.5%
2022-11-24 08:30 AM Riksbank Rate Decision 2.5% 1.75% 2.5% 2.5%
2022-12-05 08:30 AM Monetary Policy Meeting Minutes


Related Last Previous Unit Reference
Interest Rate 2.50 1.75 percent Nov 2022
Money Supply M0 64351.00 64081.00 SEK Million Oct 2022
Money Supply M3 4956379.00 4972685.00 SEK Million Oct 2022
Foreign Exchange Reserves 662990.00 679046.00 SEK Million Oct 2022
Banks Balance Sheet 14976973.00 14786082.00 SEK Million Oct 2022
Loans to Private Sector 1792810.00 1784388.00 SEK Million Oct 2022
Deposit Interest Rate 2.40 1.65 percent Nov 2022
Lending Rate 2.60 1.85 percent Nov 2022
Money Supply M2 4884821.00 4905553.00 SEK Million Oct 2022
Money Supply M1 4424622.00 4463368.00 SEK Million Oct 2022
Central Bank Balance Sheet 1506133.00 1517390.00 SEK Million Oct 2022

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. The Riksbank's target is to hold inflation in terms of the CPIF (the CPI with a fixed interest rate) around 2 percent a year.
Actual Previous Highest Lowest Dates Unit Frequency
2.50 1.75 8.91 -0.50 1994 - 2022 percent Daily

News Stream
Riksbank Hikes Key Rate by 75bps
The Sveriges Riksbank raised its repo rate by 75 bps to 2.5 percent during its November meeting, bringing borrowing costs to the highest level since December 2008, to combat stubbornly high inflation. CPIF inflation was 9.3 percent in October, well above the central bank's target of 2 percent, and policymakers worried about the risk of the current high inflation becoming entrenched as inflationary pressures have been somewhat higher than expected. Looking ahead, the policy rate is expected to be raised further at the beginning of next year to then be just under 3 percent. Also, the Riksbank will allow its holdings of securities to decrease in line with maturities starting early next year.
2022-11-24
Riksbank Hikes Rate by 100 bps
The Sveriges Riksbank hiked its benchmark rate by an unprecedented 100 bps to 1.75 percent in September of 2022, exceeding expectations of a 75 bps increase, and signaled that the rate would continue to rise for the next six months. The decision followed two consecutive rate increases at lower magnitudes, made to fight inflation that currently stands at an over 30-year high and to support a krona that approaches its record low hit in 2001. Riksbank policymakers noted that higher price growth is undermining consumers’ and households’ purchasing power and hampers the ability to plan finances. The forecast for the year-end benchmark rate was revised higher to be close to 2.25 percent. At the same time, inflation is expected to average 8.6 percent during this year and 8.5 percent in 2023, both revised sharply upwards. Within current projections, inflation is expected to normalize at the 2 percent level by 2025.
2022-09-20
Riksbank Hikes Rate by 50bps as Expected
The Sveriges Riksbank hiked its benchmark rate by 50bps to 0.75 percent on June 2022, meeting market expectations, and signaled further hikes for this year. The Executive Board also decided to shrink its asset holdings at a faster pace than what was planned in April. The decision followed an unexpected 25bps in the central bank’s last meeting, as policymakers attempt to counteract the surge in prices and prevent higher inflation from becoming entrenched in price and wage-setting. The forecast for the year-end benchmark rate was revised upwards and is expected to be close to 2 percent. At the same time, inflation is expected to average 7.6 percent in 2022 and 7.1 percent in 2023, compared to earlier forecasts of 6 percent and 5 percent, respectively. With the current projections, inflation is expected to normalize to the 2% level by the second quarter of 2025.
2022-06-30