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The Central Bank of Norway raised its key interest rate on Thursday for the first time in seven years. The rate is increased by 0.25 percentage points to 0.75%. The Bank of Norway for a long period had been applying stimulating measures during the period of the largest oil crisis in the last decades. Now, it is time to normalize monetary policy. Owing to the increase in oil prices, the Norwegian economy shows stable growth, the basic inflation in the country has approached the target level of 2%. According to the Central Bank Governor Eystein Olsen, the regulator plans to further raise the key interest rate in the first quarter of next year.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
On Monday, Remington Arms Co. filed for bankruptcy protection for the second time since 2018 as the U.S. firearms manufacturer faced financial difficulties due to gun sales restrictions. According to the court filing, the company filed for ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
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