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Norway: Forget about inflation
Wed, Oct 15 2008, 16:57 GMT
by Arne Lohmann Rasmussen
As widely expected, Norges Bank today cut its policy rate by 50bp to 5.25%.
In the press release Norges Bank put all its focus on the financial crisis, while the current high rate of inflation received almost no attention. With regards to the financial crisis, Norges Bank said that, "The most robust approach may therefore now be to implement measures to reduce the uncertainty and stave off particularly adverse outcomes for the economy. This implies a more active monetary policy than normal, both in interest rate setting and through liquidity policy measures."
Published on Wed, Oct 15 2008, 16:58 GMT
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