MNI: Sweden Riksbank Ups QE, Leaves Key Rate At 0% - Text

     LONDON (MNI) - Sweden's Riksbank increases QE to SEK 500 billion through

end September 2021 and left the key repo rate unchanged at 0.0% at its latest

meeting.

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The full text of the Riksbank announcement follows:

Monetary policy July 2020: 

Monetary Policy Report, July 2020 To avoid an unnecessarily prolonged and deep

decline in the economy and inflation, the Executive Board has decided on several

measures. The framework for the asset purchases made by the Riksbank since the

crisis began is being extended from SEK 300 billion to SEK 500 billion up to the

end of June 2021. In September, the Riksbank will also begin purchasing

corporate bonds. 

     The Executive Board has further decided to cut interest rates and extend

maturities on lending to banks. At the same time, the repo rate is held

unchanged at zero per cent. The measures are helping to keep down general

interest rates in the economy and to maintain access to low-cost funding. In

this way, the Riksbank is providing support to the recovery in the economy and

inflation.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com