02.07.2015 16:10
YEREVAN, July 2. / ARKA /. In a surprise move, Sweden’s central bank on Thursday cut its main interest and increased its bond buying program as it stepped up its battle to raise inflation amid rising economic uncertainty triggered by the Greek crisis, vestifinance reports citing The Wall Street Journal (WSJ).
The central bank, known as the Riksbank, lowered its main repurchase rate to minus 0.35% from minus 0.25% where it had been since March. The bank said it would increase its purchases of government bonds by 45 billion Swedish kronor ($5.37 billion).
The Swedish krona weakened sharply against the euro, which rose to 9.35 kronor from 9.24 kronor.
“Inflation is rising and economic activity in Sweden is continuing to strengthen but uncertainty abroad has increased,” the Riksbank said. “Events in Greece over the past few days have substantially increased the uncertainty,” it added.
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