Interest Rate Cut to Boost Swedish Economy
Sweden's central bank, the Riksbank, has reduced its key interest rate to 1.75% to balance inflation control and support economic recovery.
This is the bank's third interest rate cut this year, following the government's expansive budget aimed at boosting consumer confidence.
"The interest rate, its job is to be the gas or the brake in the economy and now we need some gas,"
says Alexandra Stråberg, chief economist at Länsförsäkringar.
The decision is expected to give a boost to Swedish households.
Author's summary: Sweden's central bank cuts interest rate to 1.75%.