Norges Bank shocks with cut to zero

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Norges Bank shocks with cut to zero

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Norway Flag and country name made of small wooden letters. Studio shot. | LUKASZ STEFANSKI/promesaartstudio - stock.adobe.com

The Norges Bank surprised the market with an unexpected base rate cut to a record low of zero on Thursday. Since the start of the year, coronavirus volatility and wildly gyrating oil prices have buffeted the value of the kroner.

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