Thu, 24 July
27.1 C
Yerevan
USD: 383.74 RUB: 4.93 EUR: 450.05 GEL: 141.25 GBP: 521.81

Riksbank lowers its main repurchase rate

YEREVAN, July 2. / ARKA /. In a surprise move, Sweden’s central bank on Thursday cut its main interest and increased its bond buying program as it stepped up its battle to raise inflation amid rising economic uncertainty triggered by the Greek crisis, vestifinance reports citing The Wall Street Journal (WSJ).

The central bank, known as the Riksbank, lowered its main repurchase rate to minus 0.35% from minus 0.25% where it had been since March. The bank said it would increase its purchases of government bonds by 45 billion Swedish kronor ($5.37 billion).

The Swedish krona weakened sharply against the euro, which rose to 9.35 kronor from 9.24 kronor.
“Inflation is rising and economic activity in Sweden is continuing to strengthen but uncertainty abroad has increased,” the Riksbank said. “Events in Greece over the past few days have substantially increased the uncertainty,” it added.
It also cited concerns over a stronger Swedish currency, which had risen beyond Riksbank forecasts and risks choking off imported inflation.

The Riksbank board said it was ready to do more if needed and said it could change policy in between scheduled meetings as it did in March. It said it has “a high level of preparedness” and could lower rates further, increase bond buys or intervene in foreign-exchange markets. Analysts said the statement suggests even lower interest rates are likely. -0-

spot_img

POPULAR

Euro, US dollar drop against Armenian dram, as ruble ups slightly

The average market exchange rate of the US dollar against the Armenian dram as of July 15, 2025, fell by 0.02 points compared to July 14 and amounted to 384.12 drams.

Euro and dollar rise against Armenian dram, as Russian ruble falls slightly

The average market exchange rate of the US dollar against the Armenian dram as of July 14, 2025, increased by 0.23 points compared to July 11 and amounted to 384.14 drams.

EIB is Armenia’s key partner in major infrastructure projects and economic reforms, says Deputy Prime Minister

The European Investment Bank (EIB) is a key partner for Armenia in terms of major infrastructure projects and reforms in areas of strategic importance for the economy, Armenian Deputy Prime Minister Mher Grigoryan said.

US dollar rises slightly against Armenian dram, euro and ruble fall

The average market exchange rate of the US dollar against the Armenian dram as of July 17, 2025, rose by 0.16 points compared to July 16 and amounted to 384.12 drams.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

LATEST NEWS

spot_imgspot_imgspot_img