Swedish inflation continues to rise
According to Sweden’s central bank, the Riksbank, Swedish inflation rose 0.2 percent in June, to put annual inflation at 1.9 percent.
The rise is in excess of analysts’ forecasts, and adds to speculation the central bank will move again to aggressively raise interest rates.
The announcement boosted the value of the Swedish crown and comes as the Riksbank is growing increasingly worried about the prospect of higher wages leading to inflation.
According to its own forecasts, the Riksbank says it expects to raise interest rates again in September, and also in October.
The bank last raised rates in June – its eighth policy tightening in the past year and a half.