The policy rate unchanged at 1.75 percent

Postal address: 103 37 Stockholm, Visiting address: Brunkebergstorg 11 Telephone: 08-787 00 00, Web: riksbank.se PRESS RELEASE DATE: 2026-09-24 CONTACT Press Service tel. 08-787 02 00 The policy rate unchanged at 1.75 percent The Executive Board has decided to leave the policy rate unchanged at 1.75 percent. However, the economy is stronger and supply disruptions continue. Therefore, the Executive Board assesses that the policy rate should be raised more in the future than in the June forecast for inflation to stabilize around 2 percent. If the inflation and economic outlooks hold, rate hikes are expected to begin this year. Supply disruptions from the war in the Middle East remain and global cost pressures continue to be elevated. However, the global economy has so far been able to adapt to the situation to some extent. Swedish inflation in August was in line with the Riksbank's June forecast. Measured inflation is low, largely due to the direct effects of temporary fiscal policy measures. Adjusted for these, inflation is relatively close to 2 percent. Indicators suggest that inflationary pressure remains above normal and inflation is expected to rise in the near term. GDP grew faster than expected in the second quarter, but this is assessed to have been partly due to temporary factors. At the same time, the economic upturn appears broad, and sentiment in the economy has improved further. Indicators point to some improvement in the labor market. Risks remain that inflation will be higher than in the forecast. As the war is still ongoing, the underlying cause of supply disruptions remains. The price of oil, electricity, and fuel has risen recently, and furthermore, the krona has continued to weaken. In addition, supply disruptions can have greater price effects in an economy characterized by stronger demand. The Executive Board has decided to leave the policy rate unchanged at 1.75 percent. There are still available resources in the economy, and measures of underlying inflation, which exclude the direct effects of temporary fiscal policy measures, are relatively close to 2 percent. At the same time, the Executive Board assesses that the combination of a PRESS RELEASE 2 (2) stronger economy and continued supply disruptions means that the policy rate should be raised more than in the June forecast for inflation to stabilize around 2 percent. If the inflation and economic outlooks hold, the Executive Board assesses that rate hikes will begin this year. The development calls for vigilance. In addition to the war in the Middle East, there are several other risks that individually or together can affect the inflation and economic outlooks. Should there be signs of a stronger and more persistent rise in inflation, the Riksbank will raise the rate at a faster pace than in the current forecast. Forecast for Swedish inflation, GDP, unemployment and policy rate Annual percentage change, annual and quarterly average values