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Article: Sweden to cut repo rate by 0.5 percentage point
- Article from:
- Xinhua News Agency
- Article date:
- October 8, 2008
CopyrightCopyright 2008 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Sweden to cut repo rate by 0.5 percentage point
STOCKHOLM, Oct. 8 (Xinhua) -- Swedish central bank Riksbank
announced Wednesday to cut the benchmark interest rate by 0.5
percentage point to 4.25 percent.
The global financial crisis threatens to reinforce the current
slowdown in economic growth with diminished inflationary pressures
as a result, the Riksbank said in a statement.
The Bank of Canada, the Bank of England, the European Central
Bank, the U.S. Federal Reserve, and the Swiss National Bank all
announced they would be lowering interest rates Wednesday in a
coordinated action to stem the ongoing ...