Sweden's central bank hikes key interest rate, saying inflation is still too high

Governor of the Riksbank Erik Thedeen gestures during a press conference, in Stockholm, Thursday, Sept. 21, 2023. Sweden's central bank raised its key interest rate Thursday, saying that "inflationary pressures in the Swedish economy are still too high," although there were signs that inflation had begun to fall.

The Swedish currency has plunged to its lowest level ever against the euro and the U.S. dollar. Sweden has been struggling with high inflation -- it was 7.5 per cent in August, down from 9.3 per cent in July, but far from the 2 per cent target set by Sweden's central bank. Central banks worldwide have been hiking borrowing costs to fight inflation sparked by the rebound from the COVID-19 pandemic and then Russia's war in Ukraine, which pushed up food and energy prices.

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Sweden's central bank hikes key interest rate, saying inflation is still too highSweden’s central bank raised its key interest rate Thursday, saying that “inflationary pressures in the Swedish economy are still too high,” although there were signs that inflation had begun to fall.
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Sweden's central bank hike key interest rate, saying inflation is still too highSTOCKHOLM (AP) — Sweden’s central bank raised its key interest rate Thursday, saying that “inflationary pressures in the Swedish economy are still too high,” although there were signs that inflation had begun to fall. The Riksbank raised its policy rate by a quarter of a percentage point to 4% and said its forecast indicated that it could be raised further. ”Inflation is also falling in Sweden. The rate of increase in energy and food prices has slowed significantly, which is positive,” the Riksb
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