Sweden's central bank raised its key interest rate and decided to reduce the size of balance sheet in the second half of the year, taking a U-turn from its dovish stance. The Executive Board of Riksbank decided to lift the repo rate unexpectedly to 0.25 percent from 0.00 percent. This was the first hike since January 2020, when the rate was lifted to zero.
The bank now forecast two to three rate hikes this year, and plans to take the rate finally somewhat below 2 percent at the end of the three-year forecast period.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.