Riksbank implements first rate hike since 2011
Split executive board reduces inflation forecasts for 2019 and 2020
Sveriges Riksbank increased interest rates today (December 20), the first hike since 2011, due to on-target inflation.
The six-member executive board increased the repo rate by 25 basis points, to –0.25%. The Swedish central bank first implemented negative rates in February 2015 in a bid to avoid deflation; rates remained unchanged at –0.5% since February 2016.
The central bank had indicated in previous policy statements that it intended to tighten financial conditions in either December 2018
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