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Sweden cuts key interest rate to record low

Swedish krona are even cheaper now that central bank has cut its base rate to a new all time lowSweden’s central bank on Thursday cut its key interest rate by 15 basis points to a new all-time low of -0.5 percent, citing the risk of slowing inflation and falling confidence in its monetary policy. “This increases the risk of weakening confidence in the inflation target and of inflation not rising towards the target as expected,” it said. While the bank bases its monetary policy on an inflation target of 2.0 percent, it said it expected prices to rise by just 1.3 percent this year, lower than its previous forecast of 1.7 percent.

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