Sweden raises key interest rate again to target inflation

STOCKHOLM (AP) — Sweden’s central bank has raised its key interest rate, saying inflation “is still far too high.” Riksbanken on Wednesday raised its policy rate by half a percentage point to 3.5% and added that it will ”probably” be raised further by a quarter-point in June or September. Annual inflation last month hit 10.6%, down from 12% in February. Central banks around the world have been raising interest rates to combat inflation that has started to ease in many countries but is still painfully high, squeezing households and businesses.