Svein Gjedrem

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.

Norges's Gjedrem: rethink deposit guarantee

Reducing commercial bank deposit guarantees per customer would bring the Norwegian system more into line with guarantee schemes in other countries, said Svein Gjedrem, the governor of the Norges Bank.