The Sveriges Riksbank raised its policy rate by 25 basis points to 2.0% at its November meeting, as widely expected, bringing borrowing costs to their highest level in over a year. The move marked the central bank’s first rate hike since September 2023, with policymakers pointing to stronger economic activity and rising costs stemming from supply disruptions as factors likely to push inflation higher. The Riksbank also signaled that further tightening is likely in the coming year if the outlook for inflation and economic activity evolves as expected, reaffirming its September policy rate forecast.
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