Sveriges Riksbank Holds Policy Rate at 1.75% but Flags Increased Uncertainty

Sweden's central bank, Sveriges Riksbank, held its policy rate at 1.75 per cent at its January 2026 Monetary Policy Update, a decision that takes effect from 4 February 2026. The Executive Board's assessment was that the current rate level provides appropriate support to economic activity and to inflation stabilising around the 2 per cent target in the longer term, in line with the forecasts and rate path the Riksbank had published at its December 2025 meeting. The decision was announced via a press release published on the Riksbank's website.

The January meeting was a Monetary Policy Update rather than a full Monetary Policy Report. The Executive Board left the rate at 1.75 per cent and reiterated that it was expected to remain at that level for some time.

OUTLOOK

The January 2026 decision reaffirmed that the rate is expected to remain at this level for some time, in line with the December forecast, but the Riksbank said uncertainty about the outlook for inflation and economic activity had increased, citing US trade and foreign policy, and that it was prepared to adjust monetary policy if the outlook changes.

NEXT MONETARY POLICY REPORT

The Riksbank's next full Monetary Policy Report is scheduled for March 2026.

The press release published on 29 January 2026 confirmed that the rate applicable from 4 February remains 1.75 per cent.