March 17, 2020 / 7:36 AM / in 15 days

Swedish's Ingves says Riksbank can do more, can't say yet what needed

STOCKHOLM, March 17 (Reuters) - Sweden’s central bank can do more to support the economy during the current coronavirus crisis, but it is impossible to say ahead of time what measures it would take if more is needed.

“It’s about taking a variety of actions, see what works, if it doesn’t really work, do something more, do something different,” Ingves said on Swedish Radio. “You keep on doing this, over and over again, until you see the light in the tunnel.”

On Monday, the Riksbank expanded its economic support package, offering more cheap loans to banks on easier terms and to buy up to 300 billion Swedish crowns ($30.78 billion)in securities during the year.

$1 = 9.7474 Swedish crowns Reporting by Simon Johnson and Johan Ahlander

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