Sweden leaves interest rate unchanged

The Swedish Riksbank kept the repo rate unchanged at 1.5% at its meeting on 23 August. CPI inflation remains low at 0.3% in the year to July, but it is expected to return to the target level of 2% over the next two years.

The Riksbank said that GDP growth is strong, and is expected to slightly exceed the forecast in the June inflation report, as a result of revised statistics and a more expansionary monetary policy. Household borrowing and house prices continue to rise rapidly.

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