Sweden raises key interest rate for first time since 2011

FeaturesAssociated Press

Sweden's central bank says it has raised its key repo interest rate to -0.25 percent, from -0.50 percent amid signs that the Swedish economy is picking up steam.

Riksbanken says the country's monetary policy "is still expansionary and will thereby continue to support economic activity."

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Swedish news agency TT said Thursday it was the first time since 2011 that the central bank in Sweden had raised its repo rate, the interest rate it charges on lending to commercial banks.

Riksbanken said another increase will probably come in the second half of 2019.