Swedish central bank increases interest rates to 4.75 per cent
Submitted by William Kaelin on Thu, 09/04/2008 - 11:54.
Sweden's central bank Thursday raised the country's key interest rate by 0.25 per cent to 4.75 per cent in what bank chief Stefan Ingves said was a move to curb inflation.
Sweden is experiencing an inflation rate of 4.4 per cent, its highest for 15 years. The aim is to get this down to 2 per cent at most, Ingves said, adding that there would be no further interest rate increase this year. Sweden is an EU country but not in the euro zone.
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