Sweden’s central bank cuts rates by 25bp
Sveriges Riksbank says country is in “mild recession"
The Swedish central bank announced today (August 20) that it was cutting its policy rate by 25 basis points.
It is Sveriges Riksbank’s second cut since the inflationary wave of 2022, which had prompted it to raise rates eight times to 4% by September 2023. The new policy rate is 3.50%.
Sweden’s economy has entered a mild recession, the central bank said, as GDP has not changed meaningfully since the end of 2021.
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