Sweden's Central Bank Cuts Key Rate as Europe Moves Ahead of the Fed

By Dominic Chopping

STOCKHOLM--Sweden's central bank lowered its key interest rate for the first time in more than eight years on Wednesday, underlining the readiness of European policy makers to move ahead of the Federal Reserve as inflation cools.

The Riksbank cut its key rate to 3.75% from 4.0%, in line with a majority of economists polled by The Wall Street Journal, becoming only the second central bank from a rich, advanced economy to begin its easing cycle following the post-pandemic surge in inflation. Switzerland's central bank was the first to move in March.

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(END) Dow Jones Newswires

05-08-24 0355ET