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A automobile drives past a board at a currency exchange office in Moscow on February 16, 2023, as the Russian ruble dropped to its weakest marks against US dollar and euro since late April. (Photo by Yuri KADOBNOV / AFP)
Sweden's Riksbank on Wednesday hiked its guiding interest rate by a half-point to 3.5 percent as the central bank tries to rein in double digit inflation.
Inflation, which came in at 10.6 percent in March, "is still far too high and underlying inflation has been much higher than expected during the first months of the year," the bank said, adding it would likely raise the rate again in June or September.
