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Sweden’s central bank has raised its key interest rate, saying the “inflationary pressures in the Swedish economy are still too high.” STOCKHOLM -- Sweden’s central bank raised its key interest rate Thursday, saying that “inflationary pressures in the Swedish economy are still too high,” although there were signs that inflation had begun to fall. The Riksbank raised its policy rate by a quarter of a percentage point to 4% and said its forecast indicated that it could be raised further. ”I NFL ation is also falling in Sweden. The rate of increase in energy and food prices has slowed significantly, which is positive,” the Riksbank said in a statement. But the bank added that “inflation pressures are still too high,” noting that service prices are still rising rapidly and Sweden's currency, the krona, is “unjustifiably weak.” The Swedish currency has plunged to its lowest level ever against the euro and the U.S. dollar. Sweden has been struggling with high inflation — it was 7.5% in A...

The European economy has scraped out meager growth of 0.1% in the first three months of the year FRANKFURT, Germany -- The European economy scraped out meager growth of 0.1% in the first three months of the year, barely gaining momentum after dodging a winter recession as challenges persist from inflation that corrodes people’s willingness to spend. Friday’s less-than-stellar figure follows disappointing growth estimates from the U.S. a day earlier that kept alive fears of a looming recession in the world’s largest economy . The 20 countries that use the euro currency picked up speed in the first quarter after zero growth in the last three months of 2022. The eurozone avoided a winter recession thanks to mild weather that alleviated pressure on natural gas supplies. European governments and utilities also scrambled to line up additional sources to heat homes, generate electricity and power factories after Russia cut off most supply to the continent over its war against Ukraine. Industr...