March 16, 2020 / 7:22 PM / 23 days ago

Swedish expands support package with loans, more bond buys

STOCKHOLM, March 16 (Reuters) - Sweden’s central bank intends to buy securities for up to an additional 300 billion Swedish crowns ($30.83 bln) this year to facilitate credit supply and mitigate the downturn in the economy, it said on Monday.

If necessary, the purchases will include government, municipal and mortgage bonds it said.

“More precise details will be decided by the Executive Board shortly. The purchases of government bonds will be initiated immediately,” the bank said in a statement.

The Riksbank is also offering increased loans to banks. ($1 = 9.7323 Swedish crowns) (Reporting by Gwladys Fouche, Jacob Gronholt-Pedersen and Johan Ahlander)

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