rate

Europe

Norway cuts interest rate by 0.25%, says may act again later this year

17/03/2016

by Bloomberg

The Norwegian central bank reduced its key interest rate by 0.25 percentage point, to 0.5 percent, and said it may act again later this year to spur the economy from its oil-led downturn.

Europe

Oil below $55 may force Norway to cut rates again

06/01/2015

by Bloomberg

As oil drops below $55 a barrel, speculation is growing that the central bank of western Europe’s biggest crude producer will need to cut rates again. A 54% slump in Brent crude since a June high has pummelled the offshore industry in Norway, where oil and gas make up 22% of gross domestic product.