On August 20, the Riksbank lowered the key interest rate by 0.25 percentage points to 3.5 percent. In September, a further reduction is expected, which will strengthen the finances of many Swedes, not least mortgage holders.
Small house owners in Stockholm are a group that benefits extra from the interest rate cuts. Namely, they can get up to SEK 7,000 more in their wallet every month, something News24 previously reported on.
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The head of the Riksbank, Erik Thedéen, presents the Riksbank’s decision on the key interest rate during a press conference on 20 August. Photo: Fredrik Sandberg/TTBra for small business owners
Nyheter24 has asked Felicia Schoenprivate economist at Avanza Bank, about which other groups benefit from the announcement. Among them are small business owners, who can now expect higher demand and lower costs.
“Those who are small business owners can probably recognize that it has not been the easiest of years. Partly due to reduced demand but also due to higher costs with inflation,” she writes in an email to Nyheter24 and adds:
“With the interest rate cuts, demand should in any case increase slightly at the same time that cost increases should decrease.”
Felicia Schoen. Photo: Press/Avanza Bank
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The losers on the interest rate announcement
There are, however, certain groups that lose out from the interest rate cut.
Felicia Schön talks about a special group that does not benefit from the announcement – namely savings account owners without a mortgage.
“For those who do not have a mortgage but have a larger savings in a regular savings account, they will now notice that savings rates are falling just as fast, if not faster, than mortgage rates,” she notes.
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The prompt: “Negotiate”
Furthermore, Felicia Schön issues an invitation to people who save money in savings accounts to review which bank they have the money in.
“Encourages this group to put competitive pressure on the banks – compare, negotiate and change banks if it gives you a better interest rate,” she writes to Nyheter24.
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