Swedish central bank hikes rate to 15-year high
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Stockholm (People's Daily) - Sweden's central bank announced another hefty rate hike on Thursday, taking it to its highest level since 2008 to fight double-digit inflation.
“Inflation is far too high and has continued to rise,” read a Riksbank press statement on Thursday morning. “For inflation to drop and stabilize at the [2 percent] target within a reasonable amount of time, the central bank has decided to raise the key interest rate by 0.5 percentage points to 3.0 percent.”
Another raise is likely in April, the bank said. Riksbank will also start selling off government bonds from April, the statement said.
Economists at Handelsbanken, Nordea and Swedbank all predicted the 0.5 percentage point rise.