Riksbank implements first ever 100bp rate hike
Interest rates increased to 1.75%, expected to peak at 2.5% in 2023
Sveriges Riksbank today (September 20) implemented the largest interest rate increase since the introduction of a flexible exchange rate and inflation targeting in 1992.
The executive board of the Swedish central bank unanimously voted to increase the key policy rate by 100 basis points, taking it to 1.75%.
“Inflation is too high. It is undermining households’ purchasing power and making it more difficult for both companies and households to plan their finances,” said the policy statement.
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