Reported about 19 hours ago
Norway's central bank unexpectedly lowered its policy interest rate by 25 basis points to 4.25% on Thursday, citing a more favorable inflation outlook and hinting at potential future cuts. This decision surprised economists, leading to a temporary weakening of the Norwegian crown. The governor indicated that rates could drop further to 4.0% or 3.75% by year-end, with projections suggesting a target rate of around 3% by the end of 2028. The move, praised by Prime Minister Jonas Gahr Stoere ahead of upcoming elections, contrasts with the actions of other Western central banks.
Source: YAHOO