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Sweden Cuts Interest Rate to -0.25%
Sweden's central bank, which reduced its key interest rate to --0.1% in February, has lowered the rate by another 0.15 points to -0.25%.
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Sweden's central bank, which reduced its key interest rate to --0.1% in February, has lowered the rate by another 0.15 points to -0.25%.
The Riksbank also is expanding its bond-buying program by 30 billion kronor (€3.2 billion). The bank says both moves are intended to help push Sweden's inflation rate closer to the 2% it considers healthy for an expanding economy.
Sweden's inflation rate has stopped shrinking and is beginning to rise. The bank says its new initiatives will help offset the damping effect on that increase of the appreciating krona. A stronger currency reduces inflation by making imports cheaper.
The central banks for two other European economies, Denmark and Switzerland, also are offering negative rates to help accelerate growth.
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