MNI: Riksbank Boosts QE To SEK700 Bn Rates On Hold - Text

The Riksbank left interest rates unchanged at 0.0% Thursday, but increased the total QE total to SEK700 billion and extended the purchase period through end-2021.

The full text follows:

The increased spread of infection and 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 Executive Board has decided to expand and extend the Riksbank's asset purchases from SEK 500 billion to up to SEK 700 billion up to 31 December 2021. The repo rate is held unchanged at zero per cent and is expected to remain at this level in the coming years. 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.