Norwegian Central Bank Keeps Interest Low

Norwegian Central Bank Keeps Interest Low

The Norwegian Central Bank kept the interest rate at a record low. The bank left the interest rate steady at zero percent, the lowest. The Norwegian Central Bank stated that "the interest rate should be left at a record low" with a high probability "" for a while "in order to mitigate the damage caused by the coronavirus epidemic and create space for the economy. The Oslo-based Central Bank kept the interest at zero, the level it pulled at the beginning of the year when the epidemic started on Thursday. "The committee's assessment of the outlook and the balance of risk show that the policy phase should remain at these levels for a while," said Norges Bank Governor Oystein Olsen in a statement on the issue. Norway survived the recession with mild damage compared to the rest of European countries and successfully controlled the coronavirus outbreak. However, Norway had record incentives without opening the debt taps thanks to its $ 1.2 trillion asset fund.