Sweden's central bank raises rates - first time in 7 years

In the shadow of the US Federal Reserve, Sweden's Riksbank has raised its repo rate to -0.25% from -0.5%, citing inflation and inflation expectations of around 2%. It is the first time in seven years that the bank has tightened its key rate. In a statement, the bank said: "The global economy, which has grown rapidly in recent years, is now entering a phase of more subdued GDP growth, which is in line with the Riksbank's earlier forecasts. Cost pressures are gradually rising abroad, and mon...