RTTNews reports that Sweden's central bank forecast the interest rate to remain at zero percent until the third quarter of 2024.

The Executive Board of Riksbank will also continue to purchase securities during the fourth quarter, in line with the earlier decisions.

The board also decided to close the lending facilities that were launched during the pandemic and to restore at the turn of the year the requirements for the collateral the banks have to provide when borrowing from the Riksbank.

The inflation forecast for 2022 was lifted to 2.1 percent from 1.7 percent and that for 2023 was retained at 1.8 percent.

The economy is forecast to grow 3.6 percent next year instead of 3.7 percent estimated previously. Meanwhile, the outlook for 2023 was lifted to 2 percent from 1.9 percent.