Norwegian governor says negative rates are unlikely

Norway’s central bank is unlikely to cut interest rates below its current record low of 0%, its governor Øystein Olsen said today (May 19).

“With a policy rate close to zero, there is a limit to how much further it can be lowered,” Olsen told the economic affairs committee of the Norwegian parliament.

“Other countries have experienced that policy rates can continue to have an impact at slightly below zero, but it is uncertain how negative rates will influence the economy and financial markets

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