April 28, 2020 / 7:47 AM / a month ago

Swedish c.bank holds rates, leaves coronavirus package unchanged

STOCKHOLM, April 28 (Reuters) - Sweden’s central bank held its benchmark rate unchanged at 0% as expected on Tuesday and did not alter the package of measures it has launched to cushion the effects of the coronavirus outbreak on the economy, but said it was ready to do more if needed.

“The Riksbank is prepared to continue to use the tools at its disposal to provide support to the economy and inflation,” the central bank said in a statement. “The combination of appropriate measures will be adjusted to economic developments.”

With Sweden facing its worst downturn since World War Two, the Riksbank has already launched a raft of measures including loans in dollars and crowns, and an expanded quantitative easing programme to keep the financial system from seizing up. (Reporting by Stockholm Newsroom; editing by Niklas Pollard)

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