Overview

• Sweden’s Riksbank lowered its policy rate by 25 basis points to 1.75% and indicated the current level could be kept for some time, framing the move as potentially the end of its easing cycle.
• Riksbank officials said recent price gains above forecast—3.2% in August versus 2.8% in June—look transitory, citing weak consumption and a slow labor‑market response as reasons to support activity.
• Brazil’s Copom kept the Selic at 15% for a second straight meeting and described a new phase of rate maintenance for a “very prolonged” period to secure disinflation.
• The Brazilian central bank highlighted three drivers for its decision—inflation, the exchange rate and international uncertainty—stressed vigilance, and left the door open to resume hikes if needed.
• Analysts diverge on when Brazil may start cutting, with some forecasting January and others pointing to December, as global conditions shift after recent Fed easing and the ECB’s hold at 2%.