Interest rates rise

Sweden’s central bank has raised its key interest rate by 0.25 percentage points to 2.25 per cent.

In a statement, the Riksbank says there was more tightening to come, and perhaps it could be faster than the markets have expected.

The bank’s goal is to hold inflation to less than 2 per cent. It’s risen over the past year and was at 1.6 per cent last month.

Meanwhile, a report by an organistation which comprises of 17 trade unions in Sweden, is predicting the economy here will experience strong growth in the next year, but there’ll be no large increase in new jobs.

The Swedish Confederation for Professional Employees says the service sector will continue to hold back on taking on new staff, and hardly any new posts are expected in industry.

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