March 15, 2020 / 4:10 PM / 20 days ago

Finnish central bank to re-enter local corporate bond market

(Reuters) - Finland’s central bank said on Sunday it had decided to re-enter local corporate bond market due to the impact of the coronavirus, investing an initial 500 million euros ($555 million).

“Recent developments have weakened financial markets, and have increased companies’ financing needs,” Bank of Finland, which is represented on the European Central Bank’s governing council, said in a statement.

In 2009 to 2018, the Finnish central bank was investing in local corporate bond market but stopped this as corporations financing needs decreased.

Reporting by Tarmo Virki in Tallinn; Editing by Edmund Blair

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