Sweden tears up plans to raise interest rates after Brexit

It predicted that, following the uncertainty sparked by Brexit, the rate would not go up until the third quarter of next year, adjusting its previous plans of raising it earlier in 2017. “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 central bank said in a press release. The Riksbank also mentioned continuing low inflation as a factor behind its decision to keep the repo rate unchanged. (The Local Sweden)



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