Norway cuts rates by half a point updates news aggregator

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erik bruced, senior economist rat nordea markets, said: the central bank's focus is still on fighting inflation .

norway's rate cut comes on the same day that china announced a 0.27% cut in interest rates .

norway's central bank has cut the country's interest rates by 0.5%, to 4.75%, in an attempt to stave off a severe economic downturn .

the country, which relies heavily on prevenue from its oil reserves, has been hit by recent falls in the oil price .

Generated 2008-11-2_16:14

http://news.bbc.co.uk/go/rss/-/1/hi/business/7698252.stm
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