Before the announcement, Danske Bank's economists had expected a hike in the key interest rate as early as September and another later on.
With Thursday's announcement, the rise she foresaw has been pushed back, probably to November, according to Susanne Spector.
They are downplaying the greater inflation risks and the stronger GDP growth we are seeing, she says.
But I think it's reasonable to continue to expect that the next step is an increase and that the increases are not very far away.
"Softer than expected"
SEB's senior economist Robert Bergqvist thinks the announcement was "as expected".
Now everyone is waiting for the timing of the first interest rate hike, he says.
I interpret this as meaning that, compared with June, the Swedish Central Bank is still taking a small step towards a higher probability of us getting an interest rate hike before the end of the year, he adds.
Amanda Sundström, fixed-income strategist at SEB, adds:
"It's softer than the market had expected. It's softer than many investors and, in many cases, we as banking analysts had expected," she says.
Higher inflation than expected
The krona and Swedish market interest rates moved marginally lower immediately after the interest rate announcement.
"Should the unexpectedly high inflation during the summer be the beginning of a larger and more lasting inflationary upswing, the Swedish Central Bank will adjust monetary policy in a tighter direction," the Swedish Central Bank writes in a press release.
According to the Swedish Central Bank's own forecast, inflation has been somewhat higher than expected during the summer. In the background, the Iran war and the closed Strait of Hormuz loom, creating global upward pressure on energy and freight prices, which is starting to have an impact - including through higher producer prices in Germany.
"Both growth and inflation have been higher during the summer than in the forecast from June, and the risk that underlying inflation will become too high in the wake of supply disruptions remains," the bank writes.
