Swedish krona tumbles to 17-year lows

EPA-EFE//ANNIKA AF KLERCKER

Swedish krona tumbles to 17-year lows


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The Swedish krona dropped to a 17-year low on Thursday as the country’s central bank is the latest to reverse its policy and delay an interest rate hike.

The krona sank 1.4% against the dollar to its lowest point since August 2002 as the central bank, or Reikbank, is not expected to hike interest rates before 2020. The turbulence echoes the drop of the euro in March when the European Central Bank pushed back an interest rate hike to 2020.

Sweden is the latest EU member state to see its inflation drop to a 22-month low, as its economy is linked to the Eurozone.

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