on 18 march 2015, the riksbank cut the repo rate even further, to −0.25%. the bank announced at the same time that it was buying government bonds worth sek 30 billion (us$3.4 billion, €3.2 billion) to prevent an appreciating krona from hindering an uptick in inflation. inflation has been close to zero in sweden since late 2012 and in february it was at 0.1%, far below the target of 2.0%, and the purpose of these moves was to stimulate inflation. the bank announced that it intends to keep the rate at −0.25%. "at least until the second half of 2016." the deposit rate was as a consequence lowered to −1.00% and the lending rate to 0.50%.