Sweden's central bank left its key interest rate unchanged at zero and maintained asset purchases and liquidity provisions, and reiterated that the rate will remain at the current level in the coming years in the backdrop of the high uncertainty surrounding the economic outlook due to the coronavirus pandemic.
The repo rate has been at zero since January when it was hiked by 25 basis points. The bank left the rate steady for a fifth straight session.
The latest projections from the bank showed the repo rate remaining at zero through the third quarter of 2023.
"The Executive Board assesses that the combination of measures taken by the Riksbank during the spring and summer is the most effective way of achieving this," the central bank said in a statement.
"The Riksbank will therefore continue to make asset purchases and offer liquidity within all of the programmes launched so far this year."
For comments and feedback: editorial@rttnews.com