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Sweden keeps interest rate at 2 percent

Sweden keeps interest rate at 2 percent

Sweden's central bank has kept its key interest rate unchanged at 2 percent, citing a sharper economic slowdown than previously forecast for the small Nordic country.
It also says planned future increases will be delayed.
Wednesday's decision was widely expected by market watchers since the global financial woes, particularly in the United States and the eurozone, have worsened in recent months.
Still, the Riksbank says "the recovery in the world as a whole is nevertheless expected to continue."
The bank says that a low repo rate "will gradually stabilize inflation around the target of 2 percent and resource utilization around a normal level."
Sweden's economy is currently one of the best performers in the European Union.


Updated : 2021-08-04 04:19 GMT+08:00