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Financial News: Riksbank Keeps Rates Unchanged, Sees Slower Hikes Ahead

Riksbank Keeps Rates Unchanged, Sees Slower Hikes Ahead

09/05/2019 - 04:46:00 (RTTNews)

(RTTNews) - Sweden's central bank left its key interest rate unchanged on Thursday, as expected, and signaled that it will hike rates in future at a slower pace. The Executive Board of Riksbank decided to hold the repo rate unchanged at -0.25 percent.

"As before, the interest rate is expected to be raised towards the end of the year or at the beginning of next year," the bank said.

"However, low interest rates abroad and worsened sentiment mean that the interest rate is expected to be increased at a slower pace thereafter than in the previous forecast."

The repo rate was last hiked in December in an unexpected move, the first increase since July 2011. Swedish interest rates entered negative territory in early 2015.

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