Interest Rates Up
The Central Swedish Bank has decided to hike its most important interest rate by a quarter of a point to 4%.
The raise in rates was widely expected by the markets. The Swedish crown rose versus the Euro and the US Dollar on the news of the rate rise.
The bank has also lowered its economic forecasts for Sweden for the next few years, expecting growth to be slower due to financial turbulence around the world. Unemployment is expected to fall quicker than previously predicted though. Down to 4.3 percent by next year.