Page last updated at 12:03 GMT, Thursday, 4 December 2008

Sweden cuts interest rates to 2%

Swedish kroner
Sweden is acting to ease the effects of the global downturn

Sweden's central bank has cut its key interest rate by a record 1.75 percentage points to 2%.

The Riksbank said the move was intended to "dampen the fall in production and employment" caused by the global financial crisis.

The Riksbank said it thought the rate would remain at the same level throughout 2009.

The decision, which came two weeks earlier than expected, followed a half-point cut last month.

Elsewhere in Europe, Bank of England policymakers have cut UK rates to their lowest level for more than half a century, with a one-point reduction to 2% - a level not seen since 1951.

And the European Central Bank's governing council, meeting in Brussels, is expected to reduce rates by at least half a percentage point from the current level of 3.25%.

Print Sponsor


MARKET DATA - 11:36 UK

FTSE 100
5429.64up
23.70 0.44%
Dax
5733.05up
19.54 0.34%
Cac 40
3784.02up
14.48 0.38%
Dow Jones
10403.79up
78.53 0.76%
Nasdaq
2273.57up
35.31 1.58%
BBC Global 30
5707.15up
20.65 0.36%
Data delayed by at least 15 minutes


RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific