Current location:business >>
Sweden raises policy rate to 2.5 pct to curb inflation
business4People have gathered around
IntroductionThis photo taken on Sept. 27, 2022 shows Sweden's central bank Riksbank in Stockholm, Sweden. Sweden ...
This photo taken on Sept. 27, 2022 shows Sweden's central bank Riksbank in Stockholm, Sweden. Sweden's central bank (Riksbank) announced on Thursday a 75-percentage-point key rate hike to 2.5 percent -- the highest in 14 years. (Xinhua/Fu Yiming)
STOCKHOLM, Nov. 24 (Xinhua) -- Sweden's central bank (Riksbank) announced on Thursday a 75-percentage-point key rate hike to 2.5 percent -- the highest in 14 years.
The Riksbank said the rate hike, which will go into effect on Nov. 30, was necessary as the country's 12-month consumer price index (CPI) hit 10.9 percent in October.
"Disregarding energy prices, inflation has been unexpectedly high, which indicates that inflationary pressures are somewhat higher than expected," the Riksbank said in a press release, "it is very important that monetary policy acts to ensure inflation falls back and stabilizes around the target of 2 percent within a reasonable time."
This is the fourth rate hike since May this year, and the Riksbank also said that further hikes were likely.
"The policy rate is expected to be raised further at the beginning of next year to then be just under 3 percent," it said.
In its Monetary Policy Report, the Riksbank also said that the country's gross domestic product (GDP) is expected to shrink by 1.2 percent in 2023 before starting to slowly increase again in 2024. ■
This photo taken on Sept. 27, 2022 shows the logo of Sweden's central bank Riksbank in Stockholm, Sweden. Sweden's central bank (Riksbank) announced on Thursday a 75-percentage-point key rate hike to 2.5 percent -- the highest in 14 years. (Xinhua/Fu Yiming)
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“World Watchers news portal”。http://timor-leste.unhasdecoradas.org/html-08f399960.html
Related articles
Taylor Swift devastates fans after missing Met Gala for eighth year in a row
businessFans hoping to see Taylor Swift attend the Met Gala this year were left disappointed after the pop s ...
【business】
Read moreStarting QBs return for SEC's top 4 from last season as other teams turn to backups, transfers
businessAll four of the Southeastern Conference’s top 10 teams in last season’s final AP Top 25 return estab ...
【business】
Read moreEuropean soccer leagues insist they have no plans for games in the US. A lawsuit could change that
businessGENEVA (AP) — Leaders of top European soccer leagues say they have no plans to take games to the Uni ...
【business】
Read more
Popular articles
- Fans are following Taylor Swift to Europe after finding Eras Tour tickets less costly there
- Husband saw his wife, 50, die trying to save their beloved Labrador from a fast
- Slavia Prague fined $93,000 for crowd violence at Europa League game
- Surging auto insurance rates squeeze drivers, fuel inflation
- China, Indonesia to wrap up both Thomas & Uber Cup Finals
- Charges revealed against a former Trump aide and 4 lawyers in Arizona fake electors case
Latest articles
19th Western Pacific Naval Symposium opens in E China
Orbán challenger leads protest calling for child protection after sexual abuse scandal in Hungary
Outgoing Dutch prime minister visits Turkey's Erdogan in his bid for the NATO chief position
Maine govenor signs off on new gun laws, mental health supports in wake of Lewiston shootings
North Macedonia elections: What is at stake? Who are contesting? All you need to know
Terrifying moment gunman, 22, opens fire on Birmingham street packed with bars and pubs
LINKS
- Chinese hackers breached US ambassador to China's email account
- China Taiwan update: War
- 'Barbie' makes history with $1 billion at the box office
- Second dog infected with rare parasite babesia gibsoni
- Boeing tells pilots to check seats after LATAM plane incident
- Shortland Street: Fate of much
- VOX POPULI: Abe faction’s ‘amended’ funds report is simply worthless
- VOX POPULI: Sudden death of Navalny shows dangers of the truth in Russia
- Two US Navy sailors arrested on charges tied to national security and China
- 'Barbie' makes history with $1 billion at the box office