Economy

Swedish Repo Rate Cut in Half to 0.5%

The Swedish National Bank has again reduced the repo rate - cutting the 1% level in half to a historic low of 0.5%.

The lower interest is meant to dampen the fall in production and combat rising unemployment - making it easier to borrow money for investments and purchases – and to reach the inflation target of 2%.

Bank experts predict that the main interest rate will remain this low for the next 2 years.

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