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Sweden hikes key interest rate to highest level in 15 years
Sweden's central bank raised its policy interest rate Wednesday by 50 basis points to 3.5% in a bid to tame "far too high" inflation, warning it would likely be followed by a further quarter percentage point hike in June or September. Disregarding falling energy prices, higher-than-expected inflation during the first months of the year had persuaded the Executive Board that higher interest rates were necessary in order for inflation to fall and stabilize at the 2% target within a reasonable period, Riksbank said in a news release. "Inflation is still far too high," which together with higher underlying inflation ... (full story)