25.09.2015 - Oil price plunge forces Norway to cut rates to record low |
Norway’s central bank cut interest rates to a fresh record low as it battled to overcome a slump in oil prices that has hit the economy of western Europe’s biggest petroleum producer harder than during the financial crisis. Norges Bank cut its overnight deposit rate, the amount that banks earn by parking their spare cash at the central bank, by 25 basis points to 0.75 per cent and warned that more cuts were possible...............................................Full Article: Source |