Sweden raised interest rates by 1 % point to 1.75% due to high inflation

Sweden's Riksbank's decision to raise interest rates is the biggest since November 1992, which reduced the long-term risk of inflation.
The US Federal Reserve, Swiss National Bank, Bank of England, and Norges Bank will do the same in the coming 2 days with rate increases of 0.5 to 0.75 percentage points.
In 2022, Sweden’s central bank was one of the last to increase rates, opting to lift them from 0 in April after years of low inflation compared to its 2% target but in August, the inflation rate hit 9%, the highest in Sweden since 1991.
Inflation is damaging households’ purchasing power, making it more difficult for both companies and households to plan their finances.

Image: Local Sweden

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