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Sweden’s krona hits new record low as central bank hikes and plays down currency intervention
Sweden’s krona hit a new record low Thursday after the country’s central bank raised rates and played down the possibility of market interventions as the currency falls and the economy slows. The Swedish currency dropped to 0.0844 krona to the euro by early afternoon Thursday, after the Riksbank announced it would raise interest rates by 25 basis points. It also sank against the greenback. The policy rate now sits at 3.75% and the figure is in line with forecasts made by analysts polled by Reuters. The bank also anticipates “at least one more” hike this year. “Inflation is falling but is still far too ... (full story)