Breaking: Norges Bank in Emergency 50 bp Rate Cut

Norges Bank decided to follow in the footsteps of Fed and Bank of England and made an emergency rate cut. The Norwegian central bank cut policy rate from 1.5% to 1%. The decision was unanimous and the Bank said it is prepared to cut further if needed.

Norwegian strengthened further against the euro after the release. However, the pair still trades at the highest levels in history.

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