Tags: EU | Sweden | Interest | Rate | Cut

Sweden Cuts Key Interest Rate to minus 0.50 Percent

Thursday, 11 February 2016 05:36 AM EST

STOCKHOLM (AP) — Sweden's central bank has decided to cut its key interest rate to a record low of minus 0.50 percent, saying the measure is necessary to safeguard the bank's target of increasing inflation, which was still "not on a firm footing."

Noting that its "very expansionary monetary policy" had helped strengthen the Scandinavian country's economy and reduce unemployment, the Riksbank said Thursday that inflation was expected to be lower this year than earlier predicted and could hurt confidence in the economy.

The bank said it hopes the cut will help increase inflation to its goal of around 2 percent in 2017.

The rate cut of 0.15 percentage points to minus 0.50 percent takes effect on Feb. 17.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Sweden's central bank has decided to cut its key interest rate to a record low of minus 0.50 percent, saying the measure is necessary to safeguard the bank's target of increasing inflation, which was still "not on a firm footing."Noting that its "very expansionary monetary...
EU,Sweden,Interest,Rate,Cut
118
2016-36-11
Thursday, 11 February 2016 05:36 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved