Norges Bank cuts interest rates as krone weakens


Norway's central bank has cut its benchmark interest rate by 25 basis points to 1.25%, the lowest level since 2009, as it grapples with the diverse consequences of falling oil prices.

The price of Brent crude touched $65 per barrel earlier this week, the lowest level since the aftermath of the financial crisis five years ago.

Like other oil-exporting country central banks recently, Norges Bank today signalled that it expects prices to remain at low levels for the foreseeable future.

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