Norway: 75bps rate cut – Nordea

Norges Bank just announced another extraordinary rate cut, Dane Cekov, an analyst at Nordea informs. EUR/NOK is trading at 11.904 after jumping with the news.

Key quotes

“In line with our expectations, at an extraordinary meeting on 19 March, Norges Bank’s Monetary Policy and Financial Stability Committee unanimously decided to reduce the policy rate by 0.75 percentage point to 0.25 percent.”