Swedish Central Bank Urged to Delay Rate Hike by Powerful Unions

One of Sweden’s most powerful union groups is calling on the Riksbank to delay its planned interest-rate increases.

The Swedish Trade Union Confederation says the bank’s plan to deliver a rate hike as early as next month could hurt the labor market. The group pointed to Sweden’s political gridlock as a key concern, with government formation efforts so far leading nowhere after the Sept. 9 election.