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Sweden keeps minus rate unchanged, postpones future rate increases

Xinhua, July 6, 2016 Adjust font size:

The Swedish central bank on Wednesday announced that its key repo interest rate keep unchanged at minus 0.5 percent and postponed future rate increases.

"Economic activity in Sweden is continuing to strengthen, but there is considerable uncertainty over economic developments abroad and this has increased as a consequence of the result of the British referendum on the EU," the Riksbank said in a statement on Wednesday.

"A highly expansionary monetary policy is needed to provide support to the Swedish economy and rising inflation," it added.

The bank said that the decision on the repo rate will apply with effect from July 13, and said: "There is still a high level of preparedness to make monetary policy more expansionary if this is needed to safeguard the inflation target." Endit