Sweden's central bank expands bond-buying program



Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

COPENHAGEN, Denmark (AP) — Sweden's central bank has left its key interest rate unchanged at a record minus 0.50 percent but says it will expand its bond-purchase program by 30 billion kroner ($3.2 billion) during the first half of 2017.

The Riksbank says "increasingly strong economic activity creates the conditions for inflation to continue rising."

The Stockholm-based bank added Wednesday there were "risks that can jeopardize the upturn in inflation," adding monetary policy must remain "very expansionary."

The Riksbank said "there is still a greater probability that the (repo) rate will be cut than that it will be raised in the near term." The rate decision will apply from Dec. 28.

European Union member Sweden is not part of European Central Bank.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast