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-Sweden Riksbank to focus on managing growth, inflation.

Global Banking News-March 1, 2011--Sweden Riksbank to focus on managing growth, inflation(C)2011 ENPublishing -

Global Banking News - 01 March 2011

Sweden's central bank will continue to focus on managing domestic economic growth and the rising inflationary pressures rather than dealing with weaker growth overseas, Dow Jones has reported, citing the minutes of the executive board's monetary policy meeting on February 14, 2011.

The executive board has voted four to two at the meeting to raise the repo rate to 1.50 percent from 1.25 percent and raise the repo rate forecast by the same for coming years.

As inflationary pressures was expected to increase, the repo rate will be needed to be raised gradually in order to bring inflation closer to the Riksbank's target of two percent, the central bank said. 'The Swedish economy remains strong, although the rate of growth has slowed down somewhat compared with the very strong growth during the third quarter of last year,' the Riksbank said.

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Date:Mar 1, 2011
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