Sweden cuts rates to record 0.5%

The Riksbank cut its benchmark interest rate by half a percentage point to an all-time low of 0.5% on 21 April.

The central bank added ready to take further steps to revitalise the Swedish economy which is suffering the worst recession for more than 50 years.

The global decline in trade beginning in 2008 affected demand for exports, on which Sweden depends for half its national output, and the consequent fall in production has increased unemployment, lowered consumer demand and triggered deflat

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