Arab Today, arab today norway central bank cuts key rate to record low 1
Last Updated : GMT 12:07:17
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Arab Today, arab today

Norway central bank cuts key rate to record low 1%

Arab Today, arab today

Arab Today, arab today Norway central bank cuts key rate to record low 1%

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 one percent to counteract the impact of plunging oil prices on the economy.

"Developments in the Norwegian economy have been slightly weaker than expected and the economic outlook has deteriorated somewhat. The board has therefore decided to reduce the key policy rate now," central bank governor Oystein Olsen said in a statement.

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