Riksbank Raises Interest Rate

The Swedish central bank, the Riksbank, said on Thursday it was raising its leading interest rate by 0.25 percentage points, taking the repo rate to 3.25 percent.

It’s the highest level since mid-2003 and its seventh hike since the start of 2006.

The Riksbank has a target of 2.0 percent inflation over a two-year horizon with a 1.0 percent band on either side.

Official figures released at the same time as the Riksbank’s announcement showed Swedish inflation running at 1.9 percent year-on-year in January.

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