Riksbank Minutes comparison — 18 December 2025 vs 28 January 2026
This Riksbank minutes comparison covers 18 December 2025 and 28 January 2026. Overall, the newer document was broadly unchanged. Both documents show no change: the policy rate is held at 1.75% with neutral forward guidance. This suggests the committee is in a wait-and-see mode, with the next decision dependent on incoming data.
What changed
Broadly unchanged. Both documents show no change: the policy rate is held at 1.75% with neutral forward guidance. This suggests the committee is in a wait-and-see mode, with the next decision dependent on incoming data.
- Inflation — Little changed. No mention of inflation in either document; no change in assessment.
- Labour Market — Little changed. Labour market not discussed in key passages; no change in signal.
- Rate Path — Little changed. Policy rate held at 1.75% in both meetings with identical language; no directional shift.
- Balance Sheet — Little changed. No balance sheet language in either document; no signal.
Key wording
The Executive Board decided to hold the policy rate unchanged at 1.75 per cent at its monetary policy meeting on 17 December 2025.
The Executive Board decided to hold the policy rate unchanged at 1.75 per cent at its monetary policy meeting on 28 January 2026.
Official documents
Background reading
Related
Earlier meeting · Later meeting · Previous comparison · Methodology
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