Norges Bank cuts rates 50bp in emergency meeting
Norges Bank has cut interest rates, offered loans to banks and called on the government to drastically cut the countercyclical capital buffer in a bid to limit the impact of Covid-19.
Today (March 13) at an extraordinary meeting, the monetary and financial stability committees of Norway’s central bank voted unanimously to reduce the policy rate by 50 basis points to 1%.
The institution said there is “considerable uncertainty about the duration and impact of the coronavirus outbreak, with a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary policy decisions
Fed raises rates 25bp and signals possible halt soon
Credit tightening may substitute for further rate hikes, Powell says
Peru holds rates for second month
Governor says economic growth likely to underperform central bank’s estimates
Rates round-up: Australia signals more tightening to come
Guatemala and West African states increase rates, while Jamaica raises reserve requirement
Sri Lanka central bank negotiates rate rise with IMF
Stricken country raises interest rates and taxes in bid for $2.9 billion loan
Pakistan raises rates by 300bp as default risks rise
Authorities struggle to collect taxes and unlock IMF funds
CBRT cuts policy rate to support earthquake recovery
Central bank fears supply disruption from natural disaster could add to inflationary pressures
RBNZ raises rates as cyclone complicates outlook
“Devastating” impact of Cyclone Gabrielle creates economic disruption and prompts fiscal action
Israel continues tightening as inflation persists
Foreign minister attacks hike, forcing PM and finance minister to defend autonomy