Norway might lower rates again amid plunging oil prices

Source: Bloomberg
© Scanpix/AP
Oil declines below $55 per barrel and rises rumors about Norway's central bank will be forced to lower rates again. Brent crude experienced a 54% decline since June's high, which had a great impact on Norway's industry, where oil and gas make up to 22% of GDP. In the same amount of time the Krone lost approximately 20% versus the US Dollar and 8% against the Euro. However, the central bank's last month interest rate cut was triggered by slumping oil crude prices.
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