Sweden announces biggest interest rate hike in three decades
STOCKHOLM, Sept. 20 (Xinhua) -- Sweden's central bank Riksbank announced its sharpest policy rate hike in nearly three decades on Tuesday, raising it by 100 basis points to 1.75 percent to curb soaring inflation.
This is the third hike in a row following Riksbank's declaration in February that its policy rate would remain at zero percent until 2024. In April, the policy rate was raised to 0.25 percent, and then in June, to 0.75 percent.