Riksbank Fails to Shift Credit Markets After QE Bonanza: Chart

Sweden’s central bank likes to point out that its unprecedented stimulus is having the intended effect, but recent data tells a slightly different story. In the last year, interest rates on new mortgages have been sticky and rates on new corporate loans have only fallen marginally. That’s despite the Riksbank cutting rates deep into negative territory and extending its government bond-buying program three times.

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