Riksbank's Ingves: Can do currency intervention, rate cut if we think suitable measure

Sweden's central bank, Riksbank, noted that it's hard to say how big or long-lasting the consequences of the coronavirus outbreak will be on the economy, noted Stefan Ingves, Governor of the Riksbank and Chairman of the Executive Board.

"We are following the developments hour by hour, ready to take further measures if needed," Ingves added. "All the measures in the toolbox are available to us. We can give liquidity support to banks, can buy bonds, can do currency intervention, rate cut if we think they are suitable measures."

EUR/SEK reaction

The EUR/SEK pair edged lower on these remarks and was last seen trading at 10.8435, erasing 0.4% on a daily basis.