Sweden S Central Bank Begins Raising Interest Rates By 100 Basis Points
Mikael Sjoberg/Bloomberg via Getty Images Sweden’s Riksbank on Tuesday initiated a 100 basis point interest rate hike, taking its key rate to 1.75%, as it warned that “inflation is very high”. In a statement, the central bank said rising inflation “undermines the purchasing power of households and makes it more difficult for both companies and households to plan their finances.” related investment news With inflation still high, the Fed may be a long way from stopping hiking The sharp increase comes as the Federal Reserve kicks off its two-day monetary policy meeting, with markets broadly expecting a 75 basis point hike as policymakers try to get rising prices under control....