Norway lowers benchmark rate again

oeystein-olsen-norges

The Norges Bank's executive board today (March 14) announced a 0.25 percentage point cut to the benchmark interest rate, bringing it down to 1.5%.

"The continuing downturn abroad and the strong krone are contributing to keeping inflation low and weighing on growth in Norway. Against this background, the executive board has decided to reduce the key policy rate," said governor Øystein Olsen.

The announcement caught markets by surprise, with local media saying economists at Norwegian banks and

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