Sweden raises rates

Sweden's central bank raised it benchmark interest rate by 0.25% in a move anticipated by the market.

The Riksbank cited higher than expected economic growth and high consumer borrowing linked to strong growth in house prices as reasons for its fourth rate rise of the year. "To ensure that inflation remains close to target and that the real economy develops in a balanced manner, monetary policy should gradually become less expansionary," the Riksbank said in a statement after Tuesday's policy

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