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Riksbank Raises Key Rate First Time Since 2011, Sees Next Hike In H2 2019

Sweden's central bank unexpectedly raised its key interest rate for the first time in over seven years on Thursday.

The Executive Board raised the repo rate by a quarter-basis points to -0.25 percent, which was the first hike since July 2011.

In September, the central bank signaled that the repo rate would be raised by 25 basis points either in December or February. Economists had widely expected the bank to wait until February to raise rates.

Following the December policy session, the bank predicted that the next interest rate hike will probably occur during the second half of 2019.

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