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Sweden CPI Inflation 5.8% y-o-y (consensus 6.0%) in Nov-23

- Sweden's CPI inflation for November 2023 slowed to 5.8% y-o-y, 0.2pp below the consensus forecast of 6.0%, indicating a substantial moderation in price increases.
- This figure represents the slowest growth in inflation since February 2022 and is significantly below the 1-year average.

Sweden GDP Growth -0.3% q-o-q (consensus 0.0%) in Q3-23

- Sweden's GDP contracted by 0.3% q-o-q in Q3-23, marking a disappointingly small improvement from the previous quarter's decline of -0.8% (consensus 0.0%).
- The economy is in a technical recession, with the sustained decline accumulating an absolute recession with an annual fall of 1.4% y-o-y.

Sweden Lending to Households 0.6% y-o-y in Oct-23

- Lending to households in Sweden grew by 0.6% y-o-y in October 2023, maintaining a stable rate compared to the previous month.
- The growth rate is 1.32 pp below the one-year average and 4.04 pp below the long-run average, suggesting a subdued lending environment in Sweden.

Sweden Policy Rate 4.0% (consensus 4.0) in Nov-23

• The Riksbank held its policy rate at 4.0%, in line with economic consensus, balancing the need to address high inflation with evidence of its gradual decline and easing inflationary pressures.
• Future interest rate decisions will hinge on a comprehensive assessment of economic indicators, including inflation trends, GDP growth, and unemployment rates, with a potential gradual increase in the policy rate forecasted for the next year.
• The decision reflects a broader perspective, considering global economic conditions and the valuation of the krona, with a commitment to data-driven, responsive policymaking in the face of evolving economic scenarios.