Sweden’s central bank cut interest rates for the first time in eight years as European monetary policymakers diverge from the US to support their economies even if it comes at the expense of their currencies.
But he added that most of the risks were “on the upside” such as a further weakening of the Swedish krona leading to higher imported inflation, geopolitical risks and the continued strength of the US economy.
Sweden’s currency is the third-worst performer in the G10 group of most traded currencies this year, down 7.5 per cent against the dollar and 5 per cent against the euro.
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Sweden cuts key rate for first time in eight yearsSweden's central bank cut its key interest rate for the first time in eight years today, citing easing inflation and hinting at two more reductions before the end of the year.
Source: RTEbusiness - 🏆 16. / 61 Read more »