Swedish central bank cuts key rate further below zeroThe Shemitah Cycle is still in full swing and this Friday we will enter the Halfway Mark as it coincides with a Solar Eclipse on the same day and now a report from Yahoo News is indicating that Sweden’s central bank took its key interest rate further into negative territory Wednesday in a surprise move aimed at supporting a return to inflation. The Riksbank cut its repo rate by 0.15 percentage points to -0.25 percent and said it was buying government bonds worth 30 billion kronor ($3.4 billion, 3.2 billion euros) to prevent an appreciating krona from hindering an uptick in inflation. “The executive board of the Riksbank assesses that an even more expansionary monetary policy is needed to support the upturn in inflation and ensure that long-term inflation expectations are in line with the inflation target,” the bank said in a statement. Sweden is a member of the European Union but not of the eurozone and so retains control, via its central bank, of monetary policy and interest rates. Inflation has been close to zero in Sweden since late 2012 and in February it was at 0.1 percent, far below the target of 2.0 percent. The bank said the weakening trend had bottomed out and inflation was beginning to rise but that the rising krona — up 5.0 percent against the euro over the past month — could halt the increase. FULL REPORT