29th October 2015
Sweden’s central bank has expanded its quantitative easing programme for a fourth time since February as it struggles to follow the eurozone’s stimulus measures.
The Riksbank raised its bond-buying by 65 billion kronor, around $7.6 billion, but left its benchmark interest rate unchanged at -0.35 per cent.
The bank said that while economic activity and inflation are showing “a clear upward trend”, there is “considerable uncertainty regarding the strength of the global economy and central banks abroad are expected to pursue an expansionary monetary policy for a longer time”.
Last week, the European Central Bank left its stimulus programme unchanged, but gave a very strong signal it was preparing to add more by December.
Sweden’s krona rose against most of its peers after the Riksbank move, and the currency has now advanced around five per cent versus the euro in recent months.
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