March 10, 2020 / 9:15 AM / 24 days ago

Swedish central bank says ready to act if needed over coronavirus

FILE PHOTO: A view of an entrance at Sweden's central bank in Stockholm, Sweden, August 12, 2016. Picture taken August 12, 2016. REUTERS/Violette Goarant

STOCKHOLM (Reuters) - Swedish central bank is ready to act should the economic effects of the coronavirus warrant it, with measures to improve liquidity at the top of the list, Governor Stefan Ingves said in a statement to parliament published by the Riksbank on Tuesday.

Ingves said there was plenty of liquidity in the system currently, but it was important to maintain that situation.

“This could be more generous terms for loans to banks and/or direct purchases of securities,” Ingves said in a statement.

He said the Riksbank’s balance sheet should not be reduced in the coming year and that the board did not see “a lower policy rate as the most important measure at present”.

Reporting by Simon Johnson; editing by Niklas Pollard

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