Sweden’s central bank said on Friday that it is too early to judge the size of the damage that the coronavirus, or COVID19, can have on the economy and it stands ready to take appropriate action, when needed.

“It is still too early to draw any definitive conclusions regarding the size of the effects on the economy,” the Riksbank said in a statement. “It depends on how long the situation lasts and how it develops both internationally and in Sweden.”

The central bank said it is in constant contact with stability-focused authorities and the finance ministry, and is talking to companies and trade associations.

“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 bank said.

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