sweden’s riksbank on thursday became the latest global central bank to lift interest rates making a 50basispoint move as it cited rapidly spreading inflation the riksbank lifted the policy rate from 025 to 075 a move that was largely expected and it expects futher increases moving the rate closer to 2 by the start of next year asset holdings will also “shrink faster than was decided in april” it said the swedish central bank said the increase comes to ensure inflation will return to target and doesn’t become “entrenched” in the economy “inflation has continued to rise rapidly and price increases are spreading throughout the economy” the bank said “there have been severe fluctuations in inflation and the inflation prospects are uncertain” the riksbank expects consumer prices in the country to average 76 for 2022 versus its april forecast of 6 and 71 in 2023 above its previous forecast of 5 the euro was largely steady against the swedish krona eursek after the decision at 10683 krona the federal reserve this month raised interest rates by 75 basis points and the swiss national bank raised rates by a half point the european central bank expects to lift rates by a quarterpoint next month with another hike in september