Norges Bank reduces interest rates

Norway's central bank cut its key interest rate yesterday by 25 basis points to a new record low 2.0 per cent to spur sluggish inflation in the oil-backed economy.

Norway's economy on the upswing

The state Central Bureau of Statistics (Statistisk sentralbyraa, SSB) released figures on Thursday indicating a rise in the business cycle next year.

Things light up for Norwegian industry

The record low interest rate has not, until now, provided Norwegian industry with any really big pay offs, but all the same, the industry leaders are starting to believe again.

Interest rates cut to 50-year low

The Norwegian Central Bank (Norges Bank) reduced the sight deposit rate by 0.5 percentage points to 2.5 per cent effective 18 September.

The overnight lending rate will also be reduced by 0.5 points.

Finance Credit co-founder indicted

Trond G Kristoffersen, who co-founded the collapsed Finance Credit firm, has been indicted for allegedly swindling Norwegian banks for NOK 1.4 billion. He's also suspected of stashing away funds from Finance Credit.