Sweden's Riksbank today on Thursday cut the benchmark interest rate by 25 bp to 1.5% as the bank said that growth was slow and with subdued inflation pressures. The bank also said that it is likely to keep the main rate at those levels until some time in 2013.

The bank said in a statement on its website in order to stabilize inflation around 2% and resource utilization in the economy around a normal level, the Executive Board of the Riksbank has therefore decided to cut the repo rate.