Sweden’s central bank launches 100 basis point rate hike, says ‘inflation is too high’

Sweden’s Riksbank launched a 100 basis point hike to interest rates on Tuesday as it looks to rein in inflation.

The Riksbank hiked its interest rates by 100 basis points on Tuesday, warning that inflation is too high.

The central bank said that soaring inflation was making it harder for companies and households to plan their finances.

As the U.S. Federal Reserve begins its two-day monetary policy meeting, markets are expecting a 75 basis point increase in the federal funds rate.

The Riksbank said that monetary policy needs to be tightened further to bring inflation back to its 2% target.

The Riksbank will adapt monetary policy in order to bring inflation back to the target.

The Riksbank executive board said that strong economic activity in Sweden has contributed to the price hike.

Swedish consumer price inflation rose to 9% annually in August, its highest level since 1991, and exceeded the Riksbank's previous forecast.

Many households will have significantly higher living costs as a result of rising prices and higher interest costs.

It would be worse for households and the Swedish economy if inflation remained high.

The Fed Chairman has said that the U.S. economy will need to face some pain in order to keep inflation in check.

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