SHARE
COPY LINK

ECONOMY

Swedes get wealthier in 2010

Swedes’ personal wealth increased 2.8 percent to 6,990 billion kronor in the first quarter of 2010, according to SEB bank. The figure means Swedes are richer than ever before.

The rise is due mainly to rises in the stock market and house price increases. Households’ total debt now corresponds to 26.8 percent of their assets, somewhat lower than previously.

The Stockholm stock market rose by 8.6 percent in the first quarter; Swedish house prices grew 1.1 percent.

The figures mean that falls in wealth measured in 2007 and 2008 have now been entirely recovered.

“Continued stock market rises and rising house prices have strengthened households’ wealth situation,” said SEB personal finance economist Gunilla Nyström.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.
For members

ECONOMY

Swiss central bank announces big rate hike in inflation fight

The Swiss National Bank (SNB) raises the key interest rate by 0.75 percentage points, putting it back in positive territory at 0.5 percent.

Swiss central bank announces big rate hike in inflation fight

“The rate change applies from tomorrow, September 23rd 2022”, SNB said in a press release on Thursday.

It added that “inflation [in Switzerland] rose to 3.5 percent in August and is likely to remain at an elevated level for the time being”.

The latest rise in inflation is principally due to higher prices for goods, especially energy and food, according to the bank.

The SNB’s forecast for the evolution of inflation is, however, positive.

It forecasts that the rate will drop to 2.4 percent in 2023 and and 1.7 percent for 2024.

“Without today’s SNB policy rate increase, the inflation forecast would be significantly higher”, the bank said.

In mid-June, the SNB tightened interest rates by half a percentage point for the first time in 15  years. Since then, inflation in Switzerland has continued to rise. For August 2022, the statisticians reported inflation of 3.5 percent, after 3.4 percent in June and July.

SHOW COMMENTS