STOCKHOLM - Sweden's central bank hiked Thursday interest rates for the first time in seven years, raising the main repo rate by a quarter of a point to -0.25 percent. Sweden's central bank, like the ECB in the neighbouring eurozone, took interest rates into negative territory to prop up economic activity. "Economic activity is strong and the conditions are good for inflation to remain close to the inflation target in the period ahead," it added. "With a repo rate of −0.25 percent, monetary policy is still expansionary and will thereby continue to support economic activity," the central bank said. It added that "the pacing of rate rises in the period ahead will be adjusted according to the development of the economic outlook and inflation prospects."

Source: Bangkok Post December 20, 2018 13:18 UTC