Riksbank Cuts Rates Deeper Into Negative, Expands QE Program

Sweden’s central bank delivered an unscheduled interest rate cut and expanded its government-bond purchase plan to push down the krona as it struggles to revive inflation.

The repo rate was lowered to minus 0.25 percent from minus 0.1 percent, the Stockholm-based bank said. The bond-buying program will be expanded by 30 billion kronor ($3.4 billion), adding to the 10 billion kronor in purchases already made. The bank said it sees the repo rate at the current level until “at least” the second half of 2016.