June 18, 2020 / 8:07 AM / a month ago

Norway keeps rates at zero, outlook stronger than expected

OSLO, June 18 (Reuters) - Norway’s central bank kept its key policy interest rate on hold at a record low zero percent on Thursday, as expected, and said economic prospects had improved more than anticipated in recent weeks.

Norges Bank has cut rates three times since March, slashing the cost of borrowing from 1.5% to cushion an economy reeling from the COVID-19 pandemic and the fall in the price of crude oil. (Reporting by Victoria Klesty, writing by Terje Solsvik, editing by Gwladys Fouche)

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