Swedish Riksbank

First Swedish Monetary Policy Rate Hike since 2011

December 20, 2018

The Swedish Riksbank Executive Board raised its repo rate from -0.50% to -0.25%, marking the first rate hike since July 2011 and the first change since a 15-basis point cut in February 2016. The rate has been zero percent or lower since October 2014. A statement from the Board doesn’t anticipate another rate hike until […] More

Softer Dollar on the First Day After the Fed’s Rate Hike

December 20, 2018

Markets did not take comfort from Wednesday’s FOMC interest rate hike or the upbeat economic prognosis of Chairman Powell. The dollar fell overnight by 0.6% against the euro, 0.5% relative to the yen andĀ  Swiss franc, 0.4% vis-a-vis sterling, 0.3% versus the Australian dollar, and 0.2% against the yuan and loonie. Share prices fared poorly […] More

European Equities Helped by Softer Euro

October 24, 2018

European equities have partly recovered today in spite of disappointing Euroland, German and French preliminary purchasing manager survey findings for October. One support for European share prices may be the strengthening dollar, which is trading 0.6% higher against the euro and sterling as well as 0.3% up on the Swiss franc. President Trump expressed some […] More

Swedish Riksbank

July 3, 2018

Sweden’s repo rate was kept at negative 0.50%, and a new statementĀ from the Executive Committee did not change previous forward guidance that a gradually rising trend is likely to begin late this year. One dissenting committee member wanted a 25-basis point hike now, and another favored saying such would occur in September or October. Projected […] More

Swedish Riksbank Monetary Policy Left as It Was

April 26, 2018

The Swedish central bank repo rate has been at negative 0.50% since a 15-basis point reduction in February 2016. By that time, the rate had been negative for a whole year, and it has been non-positive since a 25-basis point cut to zero percent in October 2014. The vote by the Riksbank Executive Board to […] More

Modest Market Retrenchment Ahead of ECB Announcement

April 26, 2018

The ECB Governing Council is holding a policy review to be followed by Draghi’s press conference. The Bank of Japan Board began a two-day meeting whose results will be revealed Friday. The BOJ also releases a quarterly Outlook for Economic Activity and Prices tomorrow, which will update its macroeconomic forecasts. After meetings with U.S. President […] More

Swedish Riksbank Keeps Repo Rate at Negative 0.50%

February 14, 2018

Four months after lowering Sweden’s repo rate to an unprecedented level of zero percent in October 2014, Executive Board members embraced the negative interest rate tool, cutting the repo four times over the twelve months to February 2016 to its current level of -0.5% where such has been for the past two years. The start […] More

Swedish Riksbank

December 20, 2017

Sweden’s repo rate will stay at negative 0.50% after a unanimous vote of the central bank executive board. It was zero percent from October 2014 until a 10-basis point cut in February 2015 pushed policy into negative interest rate territory. Three more cuts over the ensuing year depressed the repo rate to -0.5% in February […] More

Swedish Riksbank

October 26, 2017

Monetary officials at the Swedish Riksbank reaffirmed that a central bank rate hike is unlikely before the second half of next year and that the upward path thereafter will be gentle. According a a released statement, the repo rate, which has been non-positive since October 2014, negative since February 2015, and at the current -0.50% […] More

Swedish Riksbank Repo Rate Stays at -0.50%

July 4, 2017

The most telling passage from the Executive Board’s post-policy review statement shifts the near-term policy bias from ease to neutral: 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 […] More