Sweden’s central bank raises interest rates by 0.50%, the highest increase in 22 years

The Swedish central bank (Rigs Bank) announced a 0.50% increase in the key interest rate to 0.75%, the largest rate hike in 22 years.

The central bank said the rate hike would take effect July 6.

The central bank has also announced further interest rate hikes to curb inflation, which has reached its highest level since the 1990s. It is aiming to raise interest rates toward 2% in early 2023.

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