Sweden's central bank, Riksbank, cuts interest rates for the first time in eight years as inflation remains above target.
Sweden's central bank, Riksbank, cuts interest rates for the first time in eight years as core inflation rate remains at 2.9% in April, with yearly inflation rate at 3.9%. The bank's officials remain unfazed by inflation falling below the 2% target, focusing on medium-term inflation trends. The Swedish currency weakened following the news. Riksbank may lower the policy rate again if inflation stays around the target rate.
May 15, 2024
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