What is the policy rate?

The Riksbank’s policy rate is our main monetary policy tool. By raising or cutting the policy rate, the Riksbank can affect other interest rates in Sweden, which affects demand in the Swedish economy and thereby inflation.

The repo rate has been renamed the policy rate

8 June 2022. The Riksbank’s repo rate has been renamed the Riksbank’s policy rate, which is a more appropriate name. The function and purpose of the interest rate are unchanged.

The current policy rate

Policy rate

Applies from 6 July 2022

Graph and table

Read more in the Monetary Policy Report

The Executive Board of the Riksbank normally makes decisions on monetary policy five times a year. The interest rate decision is announced in conjunction with the publication of the Monetary Policy Report, which describes the deliberations taken by the Riksbank in the process of deciding upon an appropriate monetary policy. 

The policy rate back in time

The page “Policy rate, borrowing and lending rate” includes a history of the policy rate from 2012 and on. If you are looking for statistics for the policy rate from its introduction in 1994, go to the page “Search interest rates and exchange rates” and look under “Riksbank interest rates”.

Updated 08/06/2022

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