Riksbank holds rates at 4%

The Riksbank's rate-setting board voted on Wednesday to keep its benchmark repo rate at 4% despite higher-than-predicted inflation.

The central bank said that the unexpectedly large rise in energy and food prices had taken inflation to 3.3% in November from 2.7% in October. Cost pressures and inflation expectations continue to rise, and the central bank expects inflation to continue rising as commodities and energy supply becomes more expensive.

But the Riksbank opted to hold rates because of

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