Interest rate corridor lowered 0.5 percentage points

 

• The Riksbank has decided today to lower its deposit and lending rates, in both cases by 0.5 percentage points. The deposit rate is set at 4.75 per cent and the lending rate at 6.25 per cent. The decision is effective from August 21th, 1996.
  
  
• The information that has been published during the summer, for instance about the development of prices and economic activity in Sweden, is in line with the main scenario that was presented in the Riksbank's inflation report last June.
  
  
• During 1996 the repo rate has been lowered comparatively quickly. The pace of the Riksbank's recent cuts has been somewhat slower. It is essential that the conditions for future monetary policy are carefully analysed in the light of incoming information. There may still continue to be some room for easing the monetary stance.
  
  A press conference will be held at the Riksbank (entrance: Malmskillnadsgatan 7) today, Thursday at 1 p.m. Note! Press card is required.
  
  SVERIGES RIKSBANK