Sweden's Economic Boost: Interest Rate Cuts and Tax Reductions

Sweden's Finance Minister announced interest rate cuts and tax reductions aimed at stimulating economic growth. The central bank's efforts to manage inflation targets foresee potential further rate cuts. These initiatives are expected to boost household and business activity, with projected GDP growth in upcoming years.

In a decisive move to invigorate the Swedish economy, Finance Minister Elisabeth Svantesson revealed on Thursday that the nation will benefit from a combination of interest rate cuts and tax reductions.

The central bank has slashed its key interest rate by 50 basis points, with potential for more cuts in December and early next year, targeting the 2% inflation mark.

These measures, aiming to enhance consumer and business activity, align with Sweden's forecasts for GDP growth, despite the recent rise in consumer prices.

(With inputs from agencies.)