The decision in brief
The policy rate is cut by 0.25 percentage points to 1.75 per cent.
Inflation is elevated now but is expected to fall back.
Economic activity is weak and the turnaround on the labour market appears to take longer.
Policy rate
1.75%
Applies from 1 October 2025
Decision documentation
- Press release 23 September 2025: Policy rate is cut to 1.75 per cent
- Monetary Policy Report September 2025
- Monetary policy decision September 2025, Policy rate decision
- Numerical data, Monetary Policy Report September 2025
- Outcomes and forecasts, September 2025
- Slides from the press conference 23 September 2025
- Minutes of the monetary policy meeting on 22 September 2025
- Voting by the Executive Board on interest rate decisions
Forecast for the policy rate
Policy rate, published on 23 September 2025
Figure: Policy rate and forecast in the short run September 2025.csv
The figure shows the outcomes for the policy rate (solid line) and the Riksbank’s forecast of the policy rate in the coming three quarters (dashed line). Outcomes are daily data and the forecast refer to quarterly average values. Read more about the forecast for the policy rate in the Monetary Policy Report. Source: The Riksbank.
Next monetary policy decision?
The next monetary policy meeting will take place on 4 November 2025 and information on the monetary policy decision, including the policy rate, will be communicated the day after, 5 November 2025.
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