Developments regarding the coronavirus

We are in constant contact with stability-focused authorities, primarily Finansinspektionen and the Swedish National Debt Office, with whom we are sharing information and status reports, and with the Ministry of Finance. To gain a better understanding of the impact of the virus on the business sector, we are also talking to companies in our business survey and to trade associations. The Riksbank is also participating in the Swedish Civil Contingencies Agency’s collaboration conferences and is exchanging information with other central banks.

It is still too early to draw any definitive conclusions regarding the size of the effects on the economy. It depends on how long the situation lasts and how it develops both internationally and in Sweden. Within our remit of safeguarding financial stability and the inflation target, we are as always prepared to take appropriate action should the need arise.

The Riksbank is following the recommendations of the Public Health Agency of Sweden. Over and above these recommendations, the Riksbank has taken additional precautionary measures for its staff. Staff who have been travelling in any of the worst-hit areas must, for example, work at home for the first two weeks after returning to Sweden. The Riksbank has also urged all staff to refrain from non-essential business travel abroad.

The Riksbank has also received questions on whether the use of cash, in particular banknotes, constitutes a risk for cross infection of the coronavirus. When using banknotes, the Riksbank urges the general public to follow the Public Health Agency of Sweden’s general hygiene advice to avoid cross infection.