July 10, 2020 / 7:50 AM / a month ago

Swedish c.bank's Ingves says scope for rate cuts not large - minutes

STOCKHOLM, July 10 (Reuters) - Swedish Central Bank Governor Stefan Ingves said asset purchases and other balance sheet measures would have to be used in order to reach the inflation target, the minutes of the central bank’s latest meeting, published on Friday, showed.

“I believe that the scope for cuts is not very large and one cannot expect the interest rate alone to be sufficient to attain the inflation target,” Ingves said.

At its June 30 meeting the Riksbank held its key rate at 0% and boosted the size of its asset purchases, including corporate bonds for the first time, as it looked to soften the economic blow from the coronavirus pandemic. (Reporting by Stockholm Newsroom; editing by Niklas Pollard)

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