March 10, 2020 / 8:22 AM / a month ago

Swedish says ready to act if needed over coronavirus

STOCKHOLM, March 10 (Reuters) - Swedish central bank is ready to act should the economic effects of the coronavirus warrant it, with measures to improve liquidity at the top of the list, Governor Stefan Ingves said in a statement to parliament published by the Riksbank on Tuesday.

Ingves said there was plenty of liquidity in the system currently, but it was important to maintain that situation.

“This could be more generous terms for loans to banks and/or direct purchases of securities,” Ingves said in a statement.

He said the Riksbank’s balance sheet should not be reduced in the coming year and that the board did not see “a lower policy rate as the most important measure at present”. (Reporting by Simon Johnson; editing by Niklas Pollard)

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