Norges Bank cuts rates 50bp in emergency meeting

Central bank offers extraordinary three-month loans to banks

Norges Bank HQ, Oslo
Norges Bank
Esten Borgos

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

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