Riksbank raises policy rate to 2 percent as expected

Sweden's Riksbank raised its policy rate by 0.25 percentage points to 2 per cent on Wednesday, matching expectations, and said the rate will likely be raised further in the coming year.

Why it matters: Sweden is one of two central banks expected to hike in a five-decision week, and the guidance keeps European front ends pricing further tightening into 2027 even as activity data stay mixed.

Data as of Sveriges Riksbank press release of November 4, 2026, read in full in this run; every figure and the rate path wording are the bank's own. The expectation of a 25 basis point rise to 2.00 percent is the Newsquawk week ahead survey cited in this site's calendar brief for the meeting. The release states no vote split; minutes of the November 3 meeting are due November 10. Developing item.

The Riksbank raised its policy rate by 0.25 percentage points to 2 per cent, in a decision that applies from November 11, 2026, matching the rise expected going into the meeting after the bank held at 1.75 percent in September. The bank said September CPIF inflation of 1.5 percent is being held down by the direct effects of temporary fiscal policy measures, putting CPIF at 3 percent excluding those effects, and that stronger economic activity and cost increases from supply disruptions point to inflation rising above the 2 percent target next year.

The bank said “it is likely that the policy rate will be raised further in the coming year,” in line with its September policy rate forecast, and expects the Swedish economy to grow relatively rapidly next year despite the higher rate. It flagged two risks to that path: the supply disruptions could worsen, and Swedish firms could pass higher costs on to consumers by more than it assumes.

Riksbank raises policy rate to 2 percent as expected

Sources