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Swedish central bank cuts interest rate to zero
Published Tue, Oct 28, 2014 · 09:50 PM
Stockholm
SWEDEN'S central bank cut interest rates by more than expected to zero on Tuesday to ward off prolonged deflation risk, and said that it would delay tightening policy until the middle of 2016.
Like the neighbouring eurozone, Sweden is grappling with persistently low inflation and wants to avoid slipping into a deflation spiral that would hit the economy as falling prices would encourage consumers to delay purchases.
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