Tue, 20 Dec 2011 12:41:16 GMT
Swedish central banks to cut key rate on economic downturn
The central bank of Sweden, the Risksbank, reported it plans
to decrease the repo rate to 1.75%, down by 0.25% citing the deepening recession
in the Euro Zone that impacts country's exports. The bank also announced when
the situation stabilizes the rate will be gradually raised. Moreover, Risksbank
cut the GDP growth forecast to 1.3% next year and to 2.3% in 2013.