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TODAY IN SWEDEN

Today in Sweden: A roundup of the latest news on Monday

Sweden's formerly tallest peak shrinks at fastest rate in 30 years, glacier collapses after summer heatwave and rainstorms, and will the Riksbank go for an aggressive 'double cut' when it lowers the interest rate this week? Here's the latest news.

Today in Sweden: A roundup of the latest news on Monday
Danielle Lillieroth Charalambous from the Tarfala research station measures the height of Kebnekaise's southern peak. Photo: Sara Widell

Kebnekaise’s southern peak shrinks at fastest rate in three decades

Sweden’s tallest mountain Kebnekaise’s southern peak shrank by 3.3 metres in the past year – the fastest decrease in 30 years.

Kebnekaise’s snow-covered southern peak was previously higher than the northern peak, but after battling global warming for years it melted below the other peak in 2018. The northern peak, which is not covered in snow, stands at 2,096.8 metres above sea level.

According to Stockholm University’s research team at Tarfala, the southern peak now only reaches 2,089.9 metres.

The southern peak is covered by a 30 metre deep glacier, but if it continues to melt at the same pace, the ice could be gone in ten years.

“I think within the foreseeable future we have to expect a southern peak without ice,” said glaciology professor Nina Kirchner.

The average temperature in August reached 9.1C at Kebnekaise, compared to 6.5C on average for the past ten years.

Swedish vocabulary: a mountain – ett berg

Swedish glacier collapses after summer heatwave and rainstorms

A glacier at the Sylmassivet area of the Jämtland mountains has completely collapsed after the summer’s mix of heatwaves and heavy rain, reports Swedish public radio station P4 Jämtland and public broadcaster SVT Nyheter Jämtland.

The glacier is melting at its fastest rate since records began in the mid-1960s, which poses heightened risks to visitors.

“It’s an ice avalanche which is deadly to say the least,” glaciology professor Per Holmlund told SVT. 

He warned against walking below the glacier, as there’s a risk of avalanches and landslides.

Swedish county authorities said there’s no risk to hikers as long as they stick to the designated path. 

Swedish vocabulary: a glacier – en glaciär

Swedes warned of first major snowfall of the season

Swedish weather agency SMHI issued a yellow warning of snow in the far north of Sweden for Monday.

The snowfall was expected to hit the north-western mountain range – from Sarek to Abisko – early on Monday morning, with inexperienced hikers advised to avoid mountainous areas. It could be difficult to orientate due to reduced visibility, and there’s a risk of frostbite. 

Kiruna municipality and parts of Gällivare are expected to see the worst of the snowfall from 2pm.

“In several places, a total of 5-10 centimetres is expected in the terrain (in the west locally 15 centimetres), but it is uncertain how much will settle on the roads. In the southernmost parts, as well as up towards Karesuando, it is uncertain how much falls as snow,” said SMHI.

A yellow warning is Sweden’s least serious weather warning on a yellow-orange-red scale, but it could still cause serious weather-related problems such as power blackouts, public transport delays, road accidents and limited accessibility on roads.

Swedish vocabulary: snow – snö

Will Sweden’s Riksbank go for an aggressive ‘double cut’?

The Swedish central bank, the Riksbank, is expected to lower the country’s key interest rate on Wednesday.

Riksbank president Erik Thedéen said earlier this month that he is leaning towards slashing the so-called policy rate another three times this year. There will only be three more opportunities for the bank to cut it this year, so that makes a cut on Wednesday pretty much a given.

It’s however up in the air whether the bank will cut it by the usual 0.25 percentage points or go for a so-called “double cut” of 0.50 percentage points, especially after the US Federal Reserve recently lowered its interest rate by 0.50 percentage points. 

Most experts believe the Riksbank will be more cautious, but that it could go either way. 

The policy rate is the central bank’s main monetary policy tool. It decides which rates Swedish banks can deposit in and borrow money from the Riksbank, which in turn affects the banks’ own interest rates on savings, loans and mortgages.

If bank interest rates are high, it’s expensive to borrow money, which means people spend less and as a result inflation drops.

Other than Wednesday, future policy rate decisions are expected on November 7th and December 18th.

Swedish vocabulary: policy rate – styrränta

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TODAY IN SWEDEN

Today in Sweden: A roundup of the latest news on Friday

Woman seriously injured in Stockholm amphibious bus accident, Northvolt's lenders call in external help as crisis deepens, and how will Sweden's new budget affect your personal finances? Here's the latest news.

Today in Sweden: A roundup of the latest news on Friday

Woman seriously injured in Stockholm tour bus accident

A woman was seriously injured after she was hit by a tour bus in the Östermalm district of central Stockholm.

The accident on Karlavägen happened on Thursday afternoon and the woman was brought to hospital by ambulance.

The bus was an amphibious bus run by sightseeing company Ocean Bus, who told Swedish media the driver was in shock after the incident.

“We obviously hope that everything turns out well for the woman who got hit. That’s really all I can say for now,” its owner told Aftonbladet.

Police are investigating the incident. 

There had been no more updates by the time of publication, 6am on Friday.

Swedish vocabulary: injured – skadad

Fatal shooting in central Swedish town

A person was shot dead in central Hallstahammar, west of Västerås, on Thursday evening.

Police were called to the scene outside a pizza place at around 7.30pm. 

“It’s being investigated as murder. If anyone saw anything, they’re very welcome to call 114 14,” said police spokesperson Maria Hall.

She declined to say whether or not anyone had been arrested when asked by the TT news agency.

A witness told regional newspaper VLT that he was on his way to his car together with his family when he first heard one gunshot, and then several in quick succession.

Swedish vocabulary: to investigate – att utreda

Northvolt’s lenders call in external help as crisis deepens

The lenders of Northvolt have hired investment bank PTJ Partners to advise on various scenarios that could arise from the struggling battery producer’s deteriorating liquidity problems, according to news agency Bloomberg.

Northvolt’s financial situation is said to be close to breaking point and a total freeze on all expenses has been introduced, according to reports in the media, although Northvolt has previously said that staff will get paid as normal in September.

Last week, Northvolt warned that a series of cost-saving measures, including layoffs, was on the cards.

A rising star of the green transition, Northvolt’s factory in Skellefteå has long been attractive among international talent. If you work for Northvolt and would like to share your story with The Local, please email emma.lofgren@thelocal.com. You may be anonymous.

Swedish vocabulary: liquidity – likviditet

How will Sweden’s new budget affect your personal finances?

Swedish Finance Minister Elisabeth Svantesson yesterday unveiled 60 billion kronor of budget reforms, of which a total of 27 billion will go towards lowering taxes. If you’re wondering how the budget may affect you, you may find these articles by The Local useful:

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