[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

MSNBC horribly suggests the genocide against the SA refugees is justified. Cheap Tomatoes (And Immigration) SOTT Earth Changes Summary - April 2025: Extreme Weather, Planetary Upheaval, Turmeric Lowers Blood Pressure-How To Get the Most Out Of It Magistrate Judge Issues Warning to US Attorney Alina Habba and ICE After Arrest of Newark Mayor UK PM Starmer Slammed For Daring To Suggest Immigrants Should "Speak English" How $21 TRILLION Went Missing From U.S. Tax Payers! -Catherine Austin Fitts Diddy’s Collapse Was No Accident – Whitney Webb Connects the Dots! CANADIAN Soldiers Spill Hard Truth about Russia Ukraine War 10 Russian weapons used in Ukraine that worry NATO CAF It Looks Like Crypto Is Going to Be the Trigger for the Next Crisis—and Massive Plunder Jimmy Dore NYC Mayor Race Just Got CRAZY! ! US Treasury Shocks With Second Biggest Budget Surplus In History Democrats have reached peaked stupidity. The Forgotten History of Neurological Vaccine Injuries Israel to take full control of land registry in West Bank's Area C, cementing annexation Trump discusses end to Gaza war with Saudi crown prince ew numbers from the Bureau of Labor and Statistics show 800,000 jobs from last year never existed. Hamas releases Israeli-American captive Edan Alexander after direct talks with U.S. Despite Mainstream Panic, US Consumer Price Inflation Tumbles To Lowest In Over 4 Years Big Pharma Whistleblower Found Dead After Confirming Ivermectin Cures Cancer Store nothing in plastic Black Nurse Claims She Kills White Patients on Facebook BOOM…😂😂😂 Eric Church - Drink In My Hand Lower Bloood Pressure Dozens of Afrikaners arrive to Dulles with refugee status, sparking outrage "Absurd Conspiracy": French Media Rushes To Quash Claims Macron, Merz & Starmer Caught Hiding Cocaine On Kiev-Bound Train Mark Dice: Blsck Fatigue How to Get Enough Polyphenols for Life Extension

Business/Finance
See other Business/Finance Articles

Title: Norway lowers key rate on oil price drag
Source: [None]
URL Source: [None]
Published: Sep 24, 2015
Author: Daniel J. Graeber
Post Date: 2015-09-24 07:59:29 by Tatarewicz
Keywords: None
Views: 7

OSLO, Norway, Sept. 24 (UPI) -- Growth in the Norwegian economy is expected to be suppressed for the medium term because of the low price of crude oil, the country's central bank said.

Norge Bank, the country's central bank, said a weakened value of its currency, the krone, could make exports more attractive, though the overall economy is expected to falter and unemployment is projected to rise.

"Growth in the Norwegian economy is likely to remain low for a longer period than projected earlier owing to the fall in oil prices through summer," the bank said in a statement. "Oil investment is expected to fall to a further extent than projected in June, and lower demand for goods and services from the petroleum sector will reduce activity in other parts of the economy."

Preliminary production figures from the Norwegian Petroleum Directorate, the nation's energy regulator, show an average daily production of around 1.9 million barrels of oil, natural gas liquids and condensate. That's about 2 percent less than July.

The government's statistics office said the decline in investment in the petroleum industry is one of the key factors dragging on the Norwegian economy.

Growth has been slow for most of the year for Norway, with gross domestic product increasing by slightly less than 1 percent for the last four quarters combined.

Norge Bank Gov. Oystein Olsen said the board opted to lower its key policy rate by a quarter percent to 0.75 percent as a result of sluggish growth.

"Growth prospects for the Norwegian economy have weakened, and inflation is projected to abate further out," he said in a statement. "The board has therefore decided to lower the key policy rate now."

Norway is a key oil exporter to European economies, which are emerging slowly from the last global financial crisis. In July, the government's statistics office said total investment in the energy sector for 2016 is estimated at $23.6 billion, a 1.4 percent increase from the estimate for 2015. Like Us on Facebook for more stories from UPI.com

Post Comment   Private Reply   Ignore Thread  

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]