Riksbank backs fiscal stimulus with massive QE programme
Swedish central bank increases loans to banks, cuts overnight lending rate to 0.2%
Sveriges Riksbank unveiled a stimulus package on March 16, which included a massive asset purchase programme, aimed at maintaining credit supply during the Covid-19 crisis.
Following an extraordinary monetary policy meeting, the Riksbank’s executive board announced it intends to buy 300 billion kronor ($30 billion) or 6% of GDP this year.
The central bank said it will immediately start buying government bonds. Additionally, it reduced the overnight lending rate for banks to 0.2 percentage
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