Repo-rate lowered to 4.25 percent

Sweden’s central bank, the Riksbank, has cut the repo rate by a half percentage point to 4.25 percent on Wednesday.  A bank spokesman said that the measure was taken because the global financial crisis is threatening to speed up the current downswing in economic growth. As a result this would diminish inflationary pressures.

The announcement came as a coordinated move with central banks of other countries who also reduced key interest rates in order to contain the ongoing financial crisis.

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