Swedish inflation above level needed for EMU entry

SWEDEN - Sweden's strong inflation rate is currently running at above the rate required for EMU entry, and January's rate risks being the highest since 1993, said Handelsbanken Research, adding that the central bank now has very little scope for rate cuts in the Spring.

Yesterday's December CPI and underlying inflation came out at 2.9 pct and 3.4 pct respectively, above expectations, as the continuing weak krona, and robust demand pushed prices higher.

Handelsbanken said its preliminary

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