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MNI BRIEF: Riksbank Boosts QE to SEK700 Bln, Extends Duration

LONDON (MNI)

Sweden's Riksbank increased the scale of its asset purchase program to SEK700 billion from SEK500 billion Thursday, saying purchases would now be carried out through the end of December 2021.

Pointing to increased Covid-19 infection rates, the central bank said "tighter restrictions will lead to a new downturn in the Swedish economy". To give further support in an uncertain time, improve the conditions for a recovery and help inflation rise towards the target of 2 per cent, the Riksbank left rates on hold at 0% as well as boosting its QE package..

The repo rate is expected to remain at this level in the coming years, the bank said, adding that by expanding and extending the asset purchase program, "the Riksbank is making it clear that comprehensive monetary policy support will be available as long as it is needed".

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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