Norges Bank reduced rates to a new record low of 0.25% after an extraordinary meeting of the monetary and financial stability committees on March 19.

The committee lowered the policy rate by 75 basis points, and “does not rule out a further rate cut”. The decision comes barely a week after the extraordinary meeting the institution held on March 13. Back then, it cut rates by 50bp to 1%, and started offering three-month loans to banks to secure their access to liquidity.

“Since Norges Bank cut