April 28, 2020 / 7:54 AM / a month ago

TABLE-Swedish c.bank sees economy contracting more than during financial crisis

    STOCKHOLM, April 28 (Reuters) - Sweden's central bank kept its benchmark repo rate unchanged
as expected on Tuesday but said the pandemic had completely changed the economic prospects for
Sweden with the economy expected to contract more than during the global financial crisis.
    
The following are the central bank's new forecasts. Previous forecasts in brackets.
      
    INFLATION, GDP AND UNEMPLOYMENT FORECASTS
Annual percentage change for Sweden's gross domestic product(GDP) and consumer prices calculated
with a fixed interest rate (CPIF). Annual average for unemployment. Due to the uncertainty
regarding the impact of the coronavirus the Riksbank presented two scenarios.
  
    Scenario A      
               2020          2021          2022
 CPIF          0.6    (1.3)  1.5    (1.7)  1.6    (1.9) 
 GDP           -6.9   (1.3)  4.6    (1.8)  5.0    (2.0) 
 Unemployment  8.8    (7.0)  9.0    (7.1)  8.2    (7.1) 
   Scenario B     
               2020          2021          2022
 CPIF          0.6    (1.3)  1.3    (1.7)  1.4    (1.9) 
 GDP           -9.7   (1.3)  1.7    (1.8)  5.4    (2.0) 
 Unemployment  10.1   (7.0)  10.4   (7.1)  9.3    (7.1) 
 
 (Reporting by Johan Ahlander; editing by Nklas Pollard)
  
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