Norges Bank

Norway cuts to a record low

Norges Bank on Wednesday cut its key rate by half a point to an all-time low of 1.5% on signs that the global recession was having an adverse impact on the domestic economy.

Basel II procyclical: Norges Bank

Basel II introduces an additional source of procyclicality into the banking sector, a new paper from Norges Bank finds.

Norway slashes rates on "major shocks"

Norges Bank has followed the Riksbank's lead in chopping 175 basis points off its key rate. Exposure to "new major shocks" sparked the move, which leaves the central bank's key rate at 3%. Elsewhere, three other central banks cut their key rate by 50…

Nordic banks and RBA join Fed swap club

The Federal Reserve on Wednesday stepped up efforts to counter money market tensions, establishing additional swap lines with the Reserve Bank of Australia and three Scandinavian central banks to meet demand for dollar loans.

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