Riksbank Makes First 50bps Rate Cut in Decade to 2.75%, Signals More Amid High Uncertainty

Nov 7, 2024, 09:18 AM

Sweden's central bank, the Riksbank, has cut its benchmark interest rate by 50 basis points to 2.75%, marking its first half-point rate cut in a decade. The move accelerates monetary easing measures to support a stagnant economy amid high uncertainty. The decision was in line with expectations, as forecasts also predicted a rate of 2.75%, down from the previous 3.25%. The central bank signaled more easing to come.