Switzerland and Sweden Hold Interest Rates Steady as Inflation Stays Low

Central banks in Europe have responded differently to the prolonged period of high energy prices, with Switzerland and Sweden holding their key interest rates steady Thursday but Norway raising borrowing costs.

The Swiss National Bank left its policy rate unchanged as expected at 0% for the fifth straight quarterly meeting, while Sweden’s Riksbank continued to hold its key rate at 1.75%, where it has been since last September. Norway’s Norges Bank raised its policy rate to 4.5% from 4.25%.

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