The Riksbank’s latest published meeting minutes show that its Executive Board unanimously agreed to hold the repo rate, while members disagreed over the pace and timing of future interest-rate changes. Some argued that persistent inflation required caution, while others warned that keeping rates high for too long could weaken economic growth. The split suggests that future policy decisions will be data-dependent and that forward guidance may become more nuanced. Markets could see greater volatility in the Swedish krona and interest-rate derivatives as traders revise expectations. Swedish borrowers may face uncertainty over the pace of mortgage-rate declines, while savers could see deposit rates remain elevated. The Riksbank’s communication will be important as it balances price stability with support for the real economy and assesses whether the divisions produce a more dovish or hawkish stance in the coming months.