Riksbank cuts rates in face of slowdown


The Sveriges Riksbank today (December 18) cut its benchmark interest rate by 25 basis points to 1% in the face of a slowdown in economic activity and low inflationary pressure.

Since the last monetary policy meeting in October, when the executive board voted to leave rates unchanged, there had been a "clear slowdown" in the Swedish economy, the central bank said. The forecast for GDP growth in 2012 remained at 0.9%, but was revised down from 1.8% to 1.2% in 2013. The dip was largely caused by

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