About: http://data.cimple.eu/news-article/ceb03f1294ae39bd22d3846810d7763e2b4f05fe76b5d65a0c396270

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About: http://data.cimple.eu/news-article/ceb03f1294ae39bd22d3846810d7763e2b4f05fe76b5d65a0c396270 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Norway's central bank said Friday it was cutting its guiding rate as an emergency measure to mitigate the economic consequences of the COVID-19 outbreak. The move, coming in the wake of central bank action across the world, takes the key rate 0.5 points lower to 1 percent. "There is considerable uncertainty about the duration and impact of the coronavirus outbreak, with a risk of a pronounced economic downturn," the bank said in a statement. Meanwhile in neighbouring Sweden the central bank said it stood ready to lend up to 500 billion kronor ($51 billion, 45 billion euros) to companies via the banking system. "The aim is to maintain the supply of credit to Swedish companies," the Riksbank said, adding it would supply more liquidity if necessary. Both central banks took their decision at emergency meetings on Thursday. In addition to the rate cut, Norway's central bank said it would offer extraordinary loans to banks, while the finance ministry said it was allowing banks to run down capital buffers to free up liquidity. The Norwegian government was also due to present measures later on Friday to support the economy, in particular airlines such as Norwegian Air Shuttle, which has been hit hard by the fall in demand. On Thursday evening, the Nordic country recorded its first death from the coronavirus, with 621 confirmed cases. Sweden has also had one coronavirus death, and 620 confirmed cases. Also on Thursday, Norway's government unveiled what it called the "most intrusive measures" the country has seen in peacetime in order to curb the spread of the novel coronavirus. Cultural and sports events would be cancelled and Norwegians were asked to avoid public transport and work from home. Bars, public swimming pools, gyms, hairdressers, massage and tattoo parlours, among others will be closed. As Western Europe's largest producer of oil, Norway has had a solid economy but the country is now affected by both the pandemic and the plunge in the price of oil. Several economists have warned of the risk of recession this year. phy-jll/jh
schema:headline	Scandinavian central banks leap into action in virus response
schema:mentions	Nordic countries 2020 coronavirus outbreak in Singapore Western Europe Public transport Massage Tattoo Recession Sweden Norway Pandemic Virus Severe acute respiratory syndrome coronavirus 2 Sveriges Riksbank Swedish krona Norwegian Air Shuttle Market liquidity The Move
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-13 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	73 (xsd:integer)

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