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February 14, 2012
Interest rates to stay low until autumn 2010
Published: 3 Sep 09 12:22 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/21860/20090903/
Sweden’s central bank has pledged to hold its benchmark interest rate, the repo rate, at 0.25 percent until next autumn in a bid to keep interest rates low for business and households.
- Ingves: Interest rates stable all year (2 Jan 12)
- Change banks without changing account numbers: minister (22 Dec 11)
- Sweden cuts interest rate amid eurozone worries (20 Dec 11)
While the Riksbank noted signs of a turnaround in the economy, it said the recovery is from a low level, and so its decision to keep interest rates low should continue to stimulate the economy. The central bank expects the rate to remain at 0.25 percent until autumn 2010.
The Riksbank also announced further measures that should lead to lower interest rates for both companies and households: “The Riksbank has decided to offer further loans totalling SEK 100 billion to the banks at a fixed interest rate and with a maturity of approximately 12 months. This should contribute to continued lower interest rates on loans to companies and households,” the central bank said in a press release.
While the Riksbank believes that Sweden will return to positive economic growth by the end of the year, it does not see the job market improving until 2011.
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Also is it a good idea to borrow from here and invest in other countries with higher interest rates?
Presuming ofcourse that Krona does not rise very high very fast.. Anycase i think its a good decision as it would lead to much more credit flow to the end user and hence the recovery would be robust and not short lived..
1. When the Riksbank makes 100 billion kronor available where does that money come from? Tax income/public debt?
2. If businesses and households establish themselves based on credit secured at historically low rates of interest how do you ensure a sustainable economic base for a 10-20 year period?
3. If the answers to 1. and 2. suggest that this is simply inflating a bubble in the short term how is this good for Sweden?
http://www.appropriate-economics.org/ebooks/neo/neo.htm