Sweden introduced an interest rate cap in 2018. In Finland, the interest rate ceiling is lower – in 2019 it was lowered to 20 per cent and in the autumn the ceiling will be 15 per cent.
Swedes' debts to the Swedish Enforcement Authority are growing by SEK 20 million per day. "It is time for us to make an evaluation of our interest rate caps," says Swedbank's Arturo Arques, who thinks Finland is setting a good example for the rest of the world.