Sweden's central bank holds policy unchanged, sees first rate hike at end 2024

Sweden's central bank announced an unchanged policy on Thursday, arguing currently above-target inflation would ease back next year and pencilling in a first-rate hike since the COVID-19 pandemic struck at the end of 2024.

"If inflation is to be close to the target in the longer term, cost pressures need to increase more permanently. This requires continued support from monetary policy," the central bank said in a statement.

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(With inputs from agencies.)