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BREAKING

BREAKING: Two injured in shooting at Malmö shopping centre

A man and a woman have been injured in a shooting at the Emporia shopping centre in Malmö, police reported on Friday evening.

BREAKING: Two injured in shooting at Malmö shopping centre
Two people have been injured in a shooting in Emporia shopping centre, Malmö. Photo: Johan Nilsson/TT
Shortly after 5pm, police received reports of multiple shots being fired within the shopping centre, which is one of the biggest in Scandinavia. 
“Two people are injured, it’s unclear how seriously,” police press spokesperson Evelina Olsson told the TT newswire. Local health services confirmed shortly afterwards that one of the two, it was unclear which one, were seriously injured.

Police have already arrested the suspected perpetrator, they said, adding that the shooting was linked to Malmö’s gangs. 

By 6pm, there were still people in the shopping centre, but according to police, the situation was no longer dangerous.

Police are currently interviewing any witnesses who can describe how the shootings took place.

“We’re on the scene with a large amount of resources but there is not an active situation,” Olsson said. “We’re now trying to get an impression of what happened and collect everyone together who might have witnessed this in different ways.”

“People have also taken shelter and locked themselves in to various shops, and we need to deal with that.”
Police have closed roads around the shopping centre and stopped all train traffic through the nearby Hyllie station. 

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BREAKING

Sweden’s central bank announces biggest interest rate hike in 30 years

Sweden's Riksbank has announced a shock one percent rise in interest rates, the biggest increase since it was given its two percent inflation target back in 1993.

Sweden's central bank announces biggest interest rate hike in 30 years

The bank has decided to raise its key interest rate, the repo rate, by one percentage point to 1.75 percent, wrong-footing analysts who had expected the bank to hike rates by just 75 points to 1.5 percent 

At a press conference announcing the decision, Stefan Ingves, the bank’s governor, apologised for not acting sooner to head off inflation. 

“There is nothing to do but apologise that it took a little time before we understood what was happening to the Swedish economy,” he said. “We’ve been wrong on our predictions on a number of occasions, but when inflation is as high as it is right now, it’s obvious what we are forced to do.”

Sweden’s inflation rate hit 9 percent in August, the highest level since 1991, indicating that the rate hikes imposed earlier in the year have not yet started to pulls price rises down. 

In a press release announcing its decision, the bank warned that high inflation “hollows out households’ buying power and makes it harder for both companies and households to plan their finances”.

Ingves said at the press conference that the pain consumers will face if inflationary expectations are allowed to take hold exceeds the pain that will be caused by a greater-than-expected rate hike. 

“This is about weighting up today against tomorrow,” he said. 

As well as increasing the rate itself, the bank announced that it would increase it in the future more than it had previously forecast, with the rate now projected to hit 2.5 percent in 2023, compared to 1.9 percent in its earlier prognosis, and 2.5 in 2024, compared to 2.0 percent earlier. 

“The prognosis indicates that the rate is going to raised again in the coming six months,” the bank wrote. “There is great uncertainty over the outlook for inflation, and the Riksbank is going to adjust monetary policy in whatever way is needed to ensure that inflation returns to the target.” 

Robert Bergqvist, senior economist at Sweden’s SEB Bank, wrote after the announcement that the hike was “not a happy step but a completely necessary one”. 

He said it showed a united central bank “throwing all its weight behind an aggressive exit policy”, which he predicted would start to bring inflation under control in 2023, allowing rate cuts as soon as 2024. 

But the decision was criticised by Torbjörn Hållö, chief economist at the Swedish Trade Union Confederation, who on Twitter called the decision “bizarre”, and “beyond all sense and balance”. 

He argued that today’s high inflation rate was driven by power and fuel shortages, meaning increasing interest rates would have no impact. 

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