Ingves outvoted as Riksbank cuts 50bp

Stefan Ingves

The Riksbank today cut its main interest rate by 50 basis points to 0.25% – its lowest level since early 2010 – in a move opposed by governor Stefan Ingves.

The surprise decision signals growing tension on the Swedish central bank's board as it attempts to respond to undershooting inflation and rising household debt levels at the same time.

Ingves – one of two on the six-strong board that advocated for a smaller cut – denied today that he had been "run over" by the other members or that his stan

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