Reuters ahead with Norway’s surprise rate cut; market reacts

Reuters was ahead with news that Norway’s central bank, joining its counterparts in the UK and U.S., cut rates by 50 basis points outside its normal cycle, triggering sharp volatility in the crown. In a surprise announcement on Friday, the bank cut its key policy rate to 1.0% from 1.5% in a bid to alleviate the economic impact from the coronavirus outbreak.