Policy rate, deposit and lending rate
The policy rate is the interest rate decided upon by the Executive Board of the Riksbank in order to achieve the inflation target. The function and purpose of the policy rate is to steer the overnight rate on the market and to influence other interest rates in the economy so that the inflation target can be achieved.
The current policy rate
Policy rate
The chart shows the Riksbank's policy rate for the last 10 years, effective.
Figure: Policy rate
Source: The Riksbank.
Forecast for the policy rate
The forecast for the policy rate (the interest rate path) is presented in the Riksbank’s Monetary Policy Report.
Read more: What is the policy rate?
| Effective (DD/MM/YY) |
Policy rate | Policy rate Change in % |
Deposit rate |
Lending rate |
Liquidity facility rate |
|---|---|---|---|---|---|
| 15/02/2023 | 3.00 | 0.50 | 2.90 | 3.10 | 3.75 |
| 30/11/2022 | 2.50 | 0.75 | 2.40 | 2.60 | 3.25 |
| 21/9/2022 | 1.75 | 1.00 | 1.65 | 1.85 | 2.50 |
| 6/7/2022 | 0.75 | 0.50 | 0.65 | 0.85 | 1.50 |
| *8/6/2022 | 0.25 | 0.00 | 0.15 | 0.35 | 1.00 |
| 4/5/2022 | 0.25 | 0.25 | 0.15 | 0.35 | n/a |
| 16/2/2022 | 0.00 | 0.00 | -0.10 | 0.10 | n/a |
| 1/12/2021 | 0.00 | 0.00 | -0.10 | 0.10 | n/a |
| 22/9/2021 | 0.00 | 0.00 | -0.10 | 0.10 | n/a |
| 7/7 2021 | 0.00 | 0.00 | -0.10 | 0.10 | n/a |
| 28/4/2021 | 0.00 | 0.00 | -0.10 | 0.10 | n/a |
| 17/2/2021 | 0.00 | 0.00 | -0.10 | 0.10 | n/a |
| 2/12/2020 | 0.00 | 0.00 | -0.10 | 0.10 | n/a |
| 23/9/2020 | 0.00 | 0.00 | -0.10 | 0.10 | n/a |
| 8/7/2020 | 0.00 | 0.00 | -0.10 | 0.10 | n/a |
| 29/4/2020 | 0.00 | 0.00 | -0.10 | 0.20 | n/a |
| 18/3/2020 | 0.00 | 0.00 | -0.10 | 0.20 | n/a |
| 19/2/2020 | 0.00 | 0.00 | -0.10 | 0.75 | n/a |
| 8/1/2020 | 0.00 | 0.25 | -0.10 | 0.75 | n/a |
| 30/10/2019 | -0.25 | 0.00 | -0.35 | 0.50 | n/a |
| 11/9/2019 | -0.25 | 0.00 | -1.00 | 0.50 | n/a |
| 10/7/2019 | -0.25 | 0.00 | -1.00 | 0.50 | n/a |
| 8/5/2019 | -0.25 | 0.00 | -1.00 | 0.50 | n/a |
| 20/2/2019 | -0.25 | 0.00 | -1.00 | 0.50 | n/a |
| 9/1/2019 | -0.25 | 0.25 | -1.00 | 0.50 | n/a |
| 31/10/2018 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 12/9/2018 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 4/7/2018 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 2/5/2018 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 21/2/2018 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 3/1/2018 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 1/11/2017 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 13/9/2017 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 5/7/2017 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 3/5/2017 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 22/2/2017 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 28/12/2016 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 2/11/2016 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 14/9/2016 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 13/7/2016 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 27/4/2016 | -0.50 | 0.00 | -1.25 | 0.25 | n/a |
| 17/2/2016 | -0.50 | -0.15 | -1.25 | 0.25 | n/a |
| 16/12/2015 | -0.35 | 0.00 | -1.10 | 0.40 | n/a |
| 4/11/2015 | -0.35 | 0.00 | -1.10 | 0.40 | n/a |
| 9/9/2015 | -0.35 | 0.00 | -1.10 | 0.40 | n/a |
| 8/7/2015 | -0.35 | -0.10 | -1.10 | 0.40 | n/a |
| 6/5/2015 | -0.25 | 0.00 | -1.00 | 0.50 | n/a |
| 25/3/2015 | -0.25 | -0.15 | -1.00 | 0.50 | n/a |
| 18/2/2015 | -0.10 | -0.10 | -0.85 | 0.65 | n/a |
| 17/12/2014 | 0.00 | 0.00 | -0.75 | 0.75 | n/a |
| 29/10/2014 | 0.00 | -0.25 | -0.75 | 0.75 | n/a |
| 10/9/2014 | 0.25 | 0.00 | -0.50 | 1.00 | n/a |
| 9/7/2014 | 0.25 | -0.50 | -0.50 | 1.00 | n/a |
| 16/4/2014 | 0.75 | 0.00 | 0.00 | 1.50 | n/a |
| 19/2/2014 | 0.75 | 0.00 | 0.00 | 1.50 | n/a |
| 18/12/2013 | 0.75 | -0.25 | 0.00 | 1.50 | n/a |
| 30/10/2013 | 1.00 | 0.00 | 0.25 | 1.75 | n/a |
| 11/9/2013 | 1.00 | 0.00 | 0.25 | 1.75 | n/a |
| 10/7/2013 | 1.00 | 0.00 | 0.25 | 1.75 | n/a |
| 24/4/2013 | 1.00 | 0.00 | 0.25 | 1.75 | n/a |
| 20/2/2013 | 1.00 | 0.00 | 0.25 | 1.75 | n/a |
| 19/12/2012 | 1,00 | -0,25 | 0,25 | 1,75 | n/a |
| 31/10/2012 | 1,25 | 0,00 | 0,50 | 2,00 | n/a |
| 12/9/2012 | 1,25 | -0,25 | 0,50 | 2,00 | n/a |
| 11/7/2012 | 1,50 | 0,00 | 0,75 | 2,25 | n/a |
| 25/4/2012 | 1,50 | 0,00 | 0,75 | 2,25 | n/a |
| 22/2/2012 | 1,50 | -0,25 | 0,75 | 2,25 | n/a |
* 08 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. A supplementary liquidity facility with looser security requirements has been introduced and the interest rate for this is currently 0.75 percentage points higher than the policy rate.
The table on this page shows the Riksbank’s policy rate from 2012 onwards. 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 rates.
Date of decision on the policy rate
The Executive Board has five scheduled monetary policy meetings per year. For information regarding the dates that decisions on the policy rate will be published, see the Calendar on the Riksbank’s website.
Deposit and lending rate
The table below shows the interest rates offered by the Riksbank to the banks for deposits and loans in the standing deposit and loan facilities. The deposit rate is currently 0.10 percentage points lower than the policy rate, and the lending rate is currently 0.10 percentage points higher than the policy rate.
Liquidity facility rate
The liquidity facility rate is the interest rate for the lending that the Riksbank offers to the banks in the supplementary liquidity facility. This interest rate is currently 0.75 percentage points higher than the policy rate.
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