Riksbank Minutes comparison — 5 November 2025 vs 18 December 2025
This Riksbank minutes comparison covers 5 November 2025 and 18 December 2025. Overall, the newer document was broadly unchanged. Both documents confirm a hold at 1.75% with no change in forward guidance or assessment. The lack of any shift in rhetoric or decision signals that the central bank is maintaining a steady posture, likely awaiting more data before any future move.
What changed
Broadly unchanged. Both documents confirm a hold at 1.75% with no change in forward guidance or assessment. The lack of any shift in rhetoric or decision signals that the central bank is maintaining a steady posture, likely awaiting more data before any future move.
- Inflation — Little changed. No inflation assessment provided in either document; no shift.
- Labour Market — Little changed. No labour market assessment provided in either document; no shift.
- Rate Path — Little changed. Policy rate held at 1.75% in both meetings; no change in stance.
- Balance Sheet — Little changed. No balance sheet or risk assessment provided; no shift.
Key wording
The Executive Board decided to hold the policy rate unchanged at 1.75 per cent at its monetary policy meeting on 4 November 2025.
The Executive Board decided to hold the policy rate unchanged at 1.75 per cent at its monetary policy meeting on 17 December 2025.
Official documents
Background reading
Related
Earlier meeting · Later meeting · Previous comparison · Next comparison · Methodology
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