Swedish rates cut to historic low
The Local · 21 Jun 2005, 10:00
Published: 21 Jun 2005 10:00 GMT+02:00
Analysts had anticipated a rate cut of 25 basis points, to 1.75 pct, Carnegie brokerage said.
"GDP growth slackened more than anticipated at the beginning of the year in both Sweden and the euro area. The forecast for Swedish GDP growth has therefore been revised down substantially for this year and slightly for next year," the central bank said in a statement.
"Over the coming years inflation is therefore expected to be clearly below the 2 pct inflation target," it added.