Norway Unexpectedly Cuts Rates to Record Low on Oil Slump
Norways central bank unexpectedly lowered interest rates to an all-time low and said it may ease policy further as it seeks to rescue an expansion in western Europes biggest petroleum producer from a plunge in oil prices.
The overnight deposit rate was cut by 25 basis points to 0.75 percent, the Oslo-based central bank said Thursday. The move was forecast by seven of the 17 economists surveyed by Bloomberg, with the rest expecting no change. The bank said its rate may ...
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