Norway central bank cuts key rate to record low 0.75%

GMT 08:40 2015 Thursday ,24 September

Arab Today, arab today Norway central bank cuts key rate to record low 0.75%

Norway central bank
Oslo - Arab Today

Norway's central bank on Thursday announced it had cut its key interest rate by a quarter point to a record low 0.75 percent to counteract the impact of plunging oil prices on the economy.

Central bank governor Oystein Olsen said the rate "may be reduced further in the coming year," noting that growth prospects for the Norwegian economy "have weakened, and inflation is projected to abate further out."

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