Analysis: "Unintelligible increase in this position"

It became a symbolic increase for the Riksbank's repo rate to drag above the minus limit to zero. Important symbolic politics means some. Strange timing means others. Or a little both. For the interest rate to be lowered in bad times and raised in good times with the ambition that inflation, the price increase rate, should be around a good 2 percent.

Despite five years of the boom in times of negative interest rates without reaching the inflation target, the negative interest rate experiment is now ending, at least until further notice. It should be said; 0 percent is not a high interest rate. A negative interest rate has benefited those who had high loans and high incomes. The Riksbank itself admits that it has increased debt among Swedes. And that the mortgage market is out of step.

A 0.25 per cent increase does not stifle the downturn to the recession - but becomes strange and a little incomprehensible in this situation.

Obviously, some things have gone the Riksbank's path for a rate hike since the last time they gave a message in October. The immediate uncertainty surrounding Brexit has blown over - at least for the next month - and, above all, the US and China have taken the antics of a trade agreement.

In the Riksbank's own interviews with major companies in November, worse times are predicted. The National Institute of Economic Research forecasts lower inflation and higher unemployment in the future and recommends an increase. But it doesn't bite.

This is a symbolic increase and the banks do not have to charge the interest rate hike to their private loan customers - but most likely do so. The chance that the deposit rate, the interest rate you have in your savings account, is ticking up at the same rate is between the thumb and forefinger 0.001 percent.

As a bank customer, the most important thing the Riksbank says about the future, the so-called interest rate path, and there is the message that there will be low interest rates for several years to come. The message is clear. There will be no high-interest shocks going forward.

For large companies and institutions, a zero interest rate for the banks when borrowing from the Riksbank should mean that they no longer have to pay to have money at the bank.

It's time to cork up the loan campaign, maybe someone and above all stop counting on high interest rates on mortgage calculations. As a Tove Janssons Mårran that comes with ice and cold, it can be important to point out that in a situation where inflation is low, the interest rate is zero and the interest deduction is still large, expensive loans are not a problem in this situation. There are high prices. Being able to borrow even larger amounts is not the solution for those who do not enter the housing market or for highly-leveraged families with children.

In the absence of political solutions to the housing shortage and to solve the fact that the Swedes are over-indebted, housing prices rushed and many used housing as ATM for travel and renovations, only authorities can warn others about the indebtedness and risks in the housing market.

The concern does not apply to Swedes leaving home and home without stopping spending money and thus shrinking the economy. Now the Riksbank relieves gas in the economy when Sweden enters a slowdown. Maybe it can also dampen the housing market. But unusual is just the first name.