Swedish c.bank ready to do more to fight coronavirus crisis - Ingves

Sweden's central bank is prepared to take further measures if needed to mitigate the effects of the coronavirus outbreak on the economy, Riksbank Governor Stefan Ingves said in a speech on Friday.

"We may need to do even more if necessary, and do it again and again until we all see the light at the end of the tunnel," Ingves said in the text of the speech, published by the central bank. "And this we are prepared to do."

As Sweden's economy has begun to shut down due to the effects of the coronavirus, the central bank has poured money into the financial system, offering 500 billion Swedish crowns in loans to companies via banks and boosting its purchases of securities by 300 billion crowns.

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