Swedish crown to be stronger than in earlier downturns-finmin

STOCKHOLM: Sweden's crown currency is likely to be higher in the current economic downturn than in past activity dips, Finance Minister Anders Borg said on Tuesday.

Speaking at a seminar on the economy, he said central bank worries over high levels of household debt were restraining monetary policy and that wider economic fundamentals were better than elsewhere.

This meant the crown would be "stronger" compared with earlier situations with the same economic conditions.

He also backed tightening up capital rules on banks as household debts were too high. At the same time, Sweden should use whatever leeway it had to stimulate the economy if necessary.