Economic Buzz: Norway cuts rate for first time in five-years, Swiss National Bank also reduced rates

Norway?s Norges Bank cut its interest rate for the first time in five years as inflation eased somewhat faster than expected and signalled further reduction in policy rate if the economy evolves as estimated. The Monetary Policy and Financial Stability Committee of Norges Bank unanimously decided to cut the policy rate to 4.25 percent from 4.50 percent. The Swiss National Bank reduced its policy rate by a quarter-point on Thursday, citing easing inflationary pressures. The bank decided to lower the SNB policy rate by 0.25 percentage points to zero percent. This was the sixth consecutive reduction by the bank.

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