Sweden’s central bank is abandoning negative policy rates for the first time in almost five years, it announced today (December 19).

Sveriges Riksbank’s executive board increased the repo rate by 25 basis points to 0%, with the new rate applying from January 8, 2020. Two of the six members of the executive board, Per Jansson and Anna Breman, voted for a delay to the rate hike. The board also said it aims to maintain the repo rate at 0% “in the coming years”.

The Riksbank first decided to