Norges Bank holds rates due to Covid fears
Norwegian central bank thinks the spread of Covid-19 likely to slow down recovery
Norway’s central bank left rates unchanged at 0% today (November 5), as it warned higher Covid-19 infection rates are likely to slow down economic recovery.
Norges Bank’s committee on monetary policy and financial stability said “the key policy rate would remain at the current level for the next couple of years and then gradually increase”. Norway’s economy “is in a sharp downturn”, it said.
Although it is recovering from the acute recession it recorded during the spring it is still below the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Argentina reduces policy rate for first time since May
Analyst says 500bp cut means country is unlikely to lift currency controls soon
State Bank of Pakistan cuts rates by 250bp
Fourth consecutive reduction comes one month after IMF begins disbursing $7 billion funding package
Colombia cuts rates by 50bp in split decision
Recent constitutional reform bill could hurt fiscal sustainability, says central bank
Savings dampen monetary policy effectiveness – Fed paper
Central banks should track excess saving at a high frequency, authors recommend
Policy tightening reduces labour productivity and presence – paper
Lower participation and labour supply have inflationary effects, Bank of Canada authors find
ECB paper finds asymmetric spillover from US monetary policy
Tightening episodes affect emerging markets more than expansionary episodes do, say researchers
Armenia cuts interest rate to 7.25%
Economic activity softens in third quarter
Monetary policy and reserves management in an era of uncertainty
Panellists at the Central Banking Summer Meetings with experience of ‘polycrises’ discussed reserves management strategies to prepare for and respond to financially turbulent times.