Sweden hikes interest rate as inflation ‘still too high’

Riksbank expects the Swedish economy to shrink by 0.8% this year, with a smaller 0.1% contraction next year. – EPA pic, September 21, 2023.

SWEDEN’S central bank raised its key rate to a 15-year high today and warned that further hikes may be needed as “inflation pressures are still too high”.

Riksbank increased its policy rate by 0.25 percentage points to 4% in a busy week for central banks worldwide.

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