Why doesn’t Bash in macOS accept non-ASCII key presses?

Brand new macOS Tahoe install. I installed bash with Homebrew to get a newer version, 5.3.9(1)-release.

In Terminal, Swedish and other non-ASCII characters like å, ä, ö work fine in Zsh, but in Bash I just get a beep when I press the keys. Same with é, which I can type by pressing ´ followed by e in Zsh, but in bash I get a beep.

I copied the locale settings from the Zsh environment, so the locale command in bash now outputs:

LANG="en_US.UTF-8"
LC_COLLATE="sv_SE.UTF-8"
LC_CTYPE="sv_SE.UTF-8"
LC_MESSAGES="sv_SE.UTF-8"
LC_MONETARY="sv_SE.UTF-8"
LC_NUMERIC="sv_SE.UTF-8"
LC_TIME="sv_SE.UTF-8"
LC_ALL="sv_SE.UTF-8"

Which is the same as in Zsh. If I start Zsh from bash and type é, copy it, exit Zsh, and then paste, I get:

303251

…and this works as if it was an é in some sense. If I do

touch ol303251
ls ol*

The output is:

olé

I searched around for the problem, but mostly find the suggestion to set the locale, and since the same locale settings work in Zsh, that doesn’t seem to be the problem.

Also, it can’t really be some setting in the Terminal app, because it works in Zsh (even if I start it from the command line inside Bash), so it would seem like it’s something that needs to be done with Bash.

Any ideas?