Sweden raises key interest rate again to target inflation
Sweden’s central bank has raised its key interest rate, saying inflation “is still far too high.”
By AP News
Published - Apr 26, 2023, 04:50 AM ET
Last Updated - Jun 22, 2023, 03:48 AM EDT
STOCKHOLM (AP) — Sweden’s central bank on Wednesday raised its key interest rate, saying inflation “is still far too high and underlying inflation has been much higher than expected.”
Riksbanken raised its policy rate by half a percentage point to 3.5% and added that it will ”probably” be raised further by a quarter-point in June or September.
”The high inflation affects in particular households that have small margins to begin with, but the development is negative for the whole economy,” the central bank said in a statement.
Annual inflation last month hit 10.6%, down from 12% in February.
