The banks lowered both deposit and lending rates 0.1 percentage points in 2001 Q3

The Riksbank's quarterly survey of the banks' and mortgage institutions' average interest rates as of 30 September 2001 indicates that the banks lowered both their deposit and lending rates by an average of 0.1 percentage points, during the third quarter of 2001. The average quarter-end level was 2.2 per cent for deposit rates and 5.7 per cent for lending rates, giving a spread of 3.6 percentage points (rounded off). The Riksbank lowered the repo rate by 0.25 percentage points to 3.75 per cent, while the rate on 6-month treasury bills fell by 0.7 percentage points during the third quarter of 2001.

The mortgage institutions raised the variable new lending rate by an average of 0.1 percentage points to 5.1 per cent during the third quarter of 2001. Meanwhile, the interest rate on the mortgage institutions' total outstanding loan volume fell by 0.1 percentage points, to 5.7 per cent, compared with the second quarter of 2001.

More detailed information can be found on the Riksbank's web site: www.riksbank.se under the headings Statistics and Publications.

Further information can be obtained from the Financial Stability Department:
Enar Olofsson, tel. +46-8-787 01 38 or e-mail: enar.olofsson@riksbank.se.