Norges Bank cuts rates, pledges liquidity support to combat effects of Coronavirus

Jonathan Boyd
clock
Norges Bank cuts rates, pledges liquidity support to combat effects of Coronavirus

Norges Bank has cut its key rate by 0.5% to 1% simultaneously warning of an economic shock in the near term as businesses react to the impact of Coronavirus. "Many firms are feeling the negative effects. Layoff notices have already been issued, and unemployment is expected to rise. Economic prospects have also weakened on the back of the sharp fall in oil prices," the bank said in a statement. Its Monetary Policy and Financial Stability Committee further added that it continues to monit...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login

Jonathan Boyd
Author spotlight

Jonathan Boyd

Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope.