Current location:style >>
Sweden raises policy rate to 2.5 pct to curb inflation
style7People have gathered around
IntroductionThis photo taken on Sept. 27, 2022 shows Sweden's central bank Riksbank in Stockholm, Sweden. Sweden ...
This photo taken on Sept. 27, 2022 shows Sweden's central bank Riksbank in Stockholm, Sweden. Sweden's central bank (Riksbank) announced on Thursday a 75-percentage-point key rate hike to 2.5 percent -- the highest in 14 years. (Xinhua/Fu Yiming)
STOCKHOLM, Nov. 24 (Xinhua) -- Sweden's central bank (Riksbank) announced on Thursday a 75-percentage-point key rate hike to 2.5 percent -- the highest in 14 years.
The Riksbank said the rate hike, which will go into effect on Nov. 30, was necessary as the country's 12-month consumer price index (CPI) hit 10.9 percent in October.
"Disregarding energy prices, inflation has been unexpectedly high, which indicates that inflationary pressures are somewhat higher than expected," the Riksbank said in a press release, "it is very important that monetary policy acts to ensure inflation falls back and stabilizes around the target of 2 percent within a reasonable time."
This is the fourth rate hike since May this year, and the Riksbank also said that further hikes were likely.
"The policy rate is expected to be raised further at the beginning of next year to then be just under 3 percent," it said.
In its Monetary Policy Report, the Riksbank also said that the country's gross domestic product (GDP) is expected to shrink by 1.2 percent in 2023 before starting to slowly increase again in 2024. ■
This photo taken on Sept. 27, 2022 shows the logo of Sweden's central bank Riksbank in Stockholm, Sweden. Sweden's central bank (Riksbank) announced on Thursday a 75-percentage-point key rate hike to 2.5 percent -- the highest in 14 years. (Xinhua/Fu Yiming)
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“International Insights news portal”。http://janmayen.graduatethesis.org/html-53c599860.html
Related articles
China ready to strengthen high
styleChina is willing to strengthen high-level exchanges with France, give play to the leading role of he ...
【style】
Read moreRescue underway after earthquake hits Syria
styleRescuers work around a damaged building after a powerful earthquake in the al-Arbaeen neighborhood i ...
【style】
Read moreHuawei opens 2nd store in Saudi Arabia
stylePhoto taken on Jan.31, 2023 shows a visitor trying smart devices at a new Huawei store in Jeddah, Sa ...
【style】
Read more
Popular articles
- Warning signs of a mini
- CPPCC National Committee Holds Gathering to Ring in New Year, Xi Jinping Delivers Important Speech
- French PM deploys constitutional power to force passage of pension reform bill
- UN Security Council voices concern over killing of World Central Kitchen staff in Gaza
- Scarred UNESCO World Heritage site Jiuzhaigou recovers after quake
- China calls for intensified diplomatic efforts to end Ukraine crisis
Latest articles
3 dead, 4 missing in explosion at Italy power station
Imposing travel restrictions for China arrivals scientifically unjustified: ACI EUROPE
World Insights: NATO's meddling in Asia
Retired general Pavel wins Czech presidential election
At least 15 killed in Israeli airstrikes on Rafah
Convention on the Law of the Sea more relevant than ever: UN chief
LINKS
- Regulators close Philadelphia
- Ryan Truex goes back
- The Giants got a big
- Katie Price's Mucky Mansion is surrounded by her huge car collection
- Luka Doncic and defensive
- Carlos Rodón pitches 6 strong innings and Yankees hit 4 homers in a 15
- Lightning D Sergachev is surprise addition to roster for must
- Regulators close Philadelphia
- Sheffield United becomes first team relegated from EPL after heavy loss at Newcastle
- Lauren Goodger cuts a stylish figure as she joins her TOWIE co