Swedish Riksbank

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

Swedish Riksbank Policy Continues to Be Very Accommodative

April 27, 2017

A released statement after today’s Executive Board meeting signaled that the negative 0.50% repo rate will not be raised above that level until at least mid-2018, later than indicated previously, and extended the program of government bond purchases through the second half of 2017. By end-2017, SEK 290 billion will have been bought under this […] More

Three Central Bank Meetings, Weaker Oil, and Several Data Releases

April 27, 2017

The dollar is up 0.5% against the kiwi, 0.4% relative to the loonie, and 0.3% against the euru and Aussie dollar but flat against sterling and softer versus the peso. Stocks are slightly lower in the U.S., Europe and Japan. Ten-year sovereign bond yields fell six basis points in Germany, France and Italy and by […] More

Swedish Riksbank Retains Very Accommodative Stance

February 15, 2017

The central bank executive board Kept the repo rate at negative 0.50%. Released a statement proclaiming a further rate cut to be likelier in the near term than any hike and forecast the repo rate no higher than zero even as late as the first quarter of 2019. Agreed to continue quantitative stimulus (bond purchases) […] More

Swedish Riksbank

December 21, 2016

The final Executive Board meeting of 2016 produced a An unchanged negative 0.5% repo rate. That’s been the level since a 15-basis point cut last February. The rate turned negative a year earlier in February 2015 and has not been above zero since a 25-basis point reduction in October 2014. Unchanged projected inflation of 1.0% […] More

Swedish Riksbank

October 27, 2016

The Executive Board’s statement after agreeing to keep a negative 0.50% central bank interest rate has plenty of forward guidance painting a picture of even more monetary accommodation. The interest rate is unlikely to rise until early 2018, six months later than imagined earlier. Asset buying in the second half of 2016 will be no […] More

Swedish Riksbank Makes No Further Policy Changes

September 7, 2016

Sweden’s repo rate stays at negative 0.5%, having been cut from zero by 10 basis points initially in February 2015, 15 bps in March 2015, 10 bps in July¬†2015 and, most recently, 15 bps earlier this year in February. A program of asset purchases that had been last expanded by SEK 45 billion to SEK […] More