The Swedish central bank has cut interest rates to a record low, saying the situation in Greece had increased uncertainty.

The rate now stands at -0.35%. In a statement, the bank said the consequences of the situation in Greece for the Eurozone as a whole and for Sweden “are difficult to judge.”

The Riksbank on Thursday lowered the repo rate by 0.10 percentage points, saying its “expansionary monetary policy is having an effect and inflation is rising.”

The rate change takes effect July 8.