The benchmark interest rate in Sweden was last recorded at 2 percent. This dataset provides the latest reported value for - Sweden Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The repo rate in Sweden was negative for a long period, until it was set to zero percent on January 8, 2020. The repo rate has remained unchanged, at zero percent, until February 2022. The repo rate is the policy rate of the Riksbank, Sweden's central bank, and can affect other interest rates, stimulates demand in the economy, and affect inflation.

This statistic shows the policy rate set by Bank of Sweden from 2011 with a forecast until 2021. The policy rate has followed the global trend of low interest rates, standing at -0.5 in 2016. The policy rate is forecasted to start increasing in 2017 and reach 1.32 percent in 2021.

In April 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 21 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in April 2025. In contrast, Russia maintained a high inflation rate of 10.2 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

From 2003 to 2025, the central banks of the United States, United Kingdom, and European Union exhibited remarkably similar interest rate patterns, reflecting shared global economic conditions. In the early 2000s, rates were initially low to stimulate growth, then increased as economies showed signs of overheating prior to 2008. The financial crisis that year prompted sharp rate cuts to near-zero levels, which persisted for an extended period to support economic recovery. The COVID-19 pandemic in 2020 led to further rate reductions to historic lows, aiming to mitigate economic fallout. However, surging inflation in 2022 triggered a dramatic policy shift, with the Federal Reserve, Bank of England, and European Central Bank significantly raising rates to curb price pressures. As inflation stabilized in late 2023 and early 2024, the ECB and Bank of England initiated rate cuts by mid-2024, and the Federal Reserve also implemented its first cut in three years, with forecasts suggesting a gradual decrease in all major interest rates between 2025 and 2026. Divergent approaches within the European Union While the ECB sets a benchmark rate for the Eurozone, individual EU countries have adopted diverse strategies to address their unique economic circumstances. For instance, Hungary set the highest rate in the EU at 13 percent in September 2023, gradually reducing it to 6.5 percent by October 2024. In contrast, Sweden implemented more aggressive cuts, lowering its rate to 2.25 percent by February 2025, the lowest among EU members. These variations highlight the complex economic landscape that European central banks must navigate, balancing inflation control with economic growth support. Global context and future outlook The interest rate changes in major economies have had far-reaching effects on global financial markets. Government bond yields, for example, reflect these policy shifts and investor sentiment. As of December 2024, the United States had the highest 10-year government bond yield among developed economies at 4.59 percent, while Switzerland had the lowest at 0.27 percent. These rates serve as important benchmarks for borrowing costs and economic expectations worldwide.

Key information about Sweden Exchange Rate against USD

• Sweden Exchange Rate against USD averaged 10.769 (USD/SEK) in Jun 2023, compared with 10.464 USD/SEK in the previous month.
• Sweden Exchange Rate against USD data is updated monthly, available from Jan 1957 to Jun 2023.
• The data reached an all-time high of 11.111 in Oct 2022 and a record low of 3.917 in Jun 1975.

CEIC extends history for monthly average Exchange Rate against USD. Federal Reserve Board provides average Exchange Rate against USD. Exchange Rate against USD prior to January 1971 is sourced from the International Monetary Fund.


Key information about Sweden Exchange Rate against USD

• In the latest reports, Sweden Short Term Interest Rate: Month End: STIBOR: 3 Months was reported at 0.032 % pa in Jul 2020.
• Its Long Term Interest Rate (Long Term Interest Rate: Month Avg: Sweden: ECB Harmonised) was reported at 2.320 % pa in May 2023.
• The cash rate (Policy Rate: Riksbank: Month End) was set at 3.500 % pa in Jun 2023.