UPDATE 3-Norway's central bank cuts rates to record low to curb virus's effects [Reuters]
Dnb Asa (DNHBY)
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Source: Reuters
UPDATE 3-Norway's central bank cuts rates to record low to curb virus's effects * Cuts key policy rate to record low 0.25% from 1.0% * Cut of 75 basis points follows 50-point cut last week * Central Bank says it may cut again * Negative rates also possible, economist says (Adds analyst, funding for banks) By Terje Solsvik and Victoria Klesty OSLO, March 20 (Reuters) - Norway’s central bank cut its key policy rate to a record-low 0.25% from 1.0% on Friday in a bid to alleviate the economic impact from the coronavirus outbreak, and may reduce rates further. It was Norges Bank’s second abrupt rate announcement triggered by the virus, following a half-point cut on March 13, when Governor Oeystein Olsen said the Norwegian economy was in a state of emergency. “Since Norges Bank cut the policy rate last week, the situation in the Norwegian economy has continued to worsen,” the central bank said in a statement announcing the unanimous decision of its monetary policy committee. “Norges Bank wi
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