Sweden cuts main interest rate further below zero

Sweden’s central bank cut its main interest rate even further below zero on Thursday as it sought to hold down the national currency to support a recovery in the inflation rate toward a 2% target.

The bank, known as Sweden’s Riksbank, lowered its main repurchase rate to minus 0.5% from minus 0.35% and said it still had scope to drop it further if needed.

Markets judged the move as more aggressive than expected and the Swedish krona weakened against the euro, which rose to 9.59 kronor from 9.47 kronor.

Sourced through Scoop.it from: www.marketwatch.com

See on Scoop.itMortgage Supermart Singapore

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s