The Riksbank opens to ignore raising the interest rate


Published 27 March 2023 at 08.06

Economy. Despite double-digit inflation, Riksbank governor Erik Thedéen does not rule out leaving the policy rate unchanged at only three percent. Instead of saving the krona, the focus may be on saving the mortgage borrowers in the middle class.

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– It may be that the inflation process is worse than we thought‚ says Erik Thedéen in Sunday evening's “Agenda” in SVT.

Nevertheless, he does not rule out that the policy rate will be left unchanged at the next meeting of the Riksbank's executive board in a month, or that it will only be raised by a symbolic 0.25 percent.

– These are rather turbulent and difficult decisions. That's why it's good to keep your cards close to your body, says Erik Thedéen.

The new announcement is good news for many over-indebted Swedes, not least in Stockholm where the governor of the Riksbank himself lives.

Recently Thedéen confirmed the rumors that he himself has variable interest on his mortgage. His apartment in Hägersten in Stockholm is 118 square meters and is currently worth SEK 9,560,000. A number that could increase by a million already through today's announcement.

Thedéen points out that the bank collapses have caused the market to count on lower interest rates in the future, while it looks like it will be tough for mortgage borrowers.

< p>– It is a tough situation. I have no message that says it will be easy. It will be tough for households, not least for metropolitan households that have recently taken on a lot of debt, says Thedéen.