Economy

    VIDEO: Riksbank hikes Swedish rate with door kept open to act again

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      Sweden's Riksbank raised borrowing costs by a quarter point and signaled an intensified response to stubborn inflation that will further constrict the enfeebled economy. In a decision that brings its key interest rate to 4%, the central bank also revealed that it will sell about a quarter of its currency reserves, offloading $8 billion and 2 billion ($2.1 billion) for Swedish kronor to guard against losses in case the Nordic currency appreciates. Governor Erik Thedeen spoke with Bloomberg following the central bank's decision.

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      Publisher
      Bloomberg