Sweden’s Riksbank unveiled its biggest interest rate rise in three decades on Tuesday, kicking off a week in which central banks round the world are expected to take similar action.
The bank raised interest rates by 1 percentage point to 1.75 per cent as it sounded the alarm over sky-high inflation.
The US Federal Reserve, Swiss National Bank, Bank of England and Norges Bank are all expected to follow suit in the coming two days with rate increases of 0.5 to 0.75 percentage points as central banks fight to bring inflation under control.
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