Swedish Krona Jumps Versus Euro After Central Bank Raises Interest Rates

(Bloomberg) -- Sweden's krona rose by the most in
more than two months versus the euro after the central bank
raised its interest rate to 3.5 percent, and said borrowing costs
will be raised more than previously forecast to forestall the
effects of wage growth on prices.

The Riksbank, the Swedish central bank, said it would raise
the repo rate to 4 percent by year-end, 50 basis points above
what the bank said in February, and stated further increases were
needed in the coming years.


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