Norges Bank reduces interest rates
Norges Bank has decided to reduce the interest rate on banks' deposits with Norges Bank, the sight deposit rate, by 0.50 percentage point with effect from 1 May. The interest rate on banks' overnight loans will also be reduced by 0.50 percentage point.
Governor Svein Gjedrem says that according to Norges Bank's overall assessment of the balance of risks, the probability that inflation two years ahead will be lower than 2½ per cent is greater than the probability that it will be higher.
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