March 17, 2020 / 4:28 PM / 16 days ago

Swedish c.bank to initiate its extended bond purchases on Wednesday

STOCKHOLM, March 17 (Reuters) - Sweden’s central bank said on Tuesday it would make its first purchase on March 18 under an asset purchase programme announced on Monday.

The Riksbank on Monday announced it would buy securities of up to an additional 300 billion crowns ($30.2 billion) this year to facilitate the flow of credit and mitigate the downturn in the economy caused by the coronavirus.

The first such purchase would be of nominal government bonds to a nominal amount of 2.5 billion crowns, it said in a statement on Tuesday.

$1 = 9.9325 Swedish crowns Reporting by Anna Ringstrom Editing by Gareth Jones

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