Norway’s central bank kept its key interest rate at zero Thursday, as expected, and reaffirmed that it will likely remain at the current level for the next couple of years. In March, Norges Bank cut the policy rate twice in consecutive weeks, first cutting to 1% from 1.5%, and then again to 0.25%, as the Norwegian economy slumped and oil prices fell to rock bottom levels as the Covid-19 crisis escalated.

Source: Wall Street Journal June 18, 2020 08:55 UTC