Oslo - The Norwegian central bank on Wednesday cut its lead rate a further 1.75 percentage points to 3.00 per cent, which was in line with market expectations.
The new cut takes effect Thursday, the central bank said.
The decision to lower rates was taken against the backdrop of weaker growth in Norway and internationally since the end of October, Norges Bank Deputy Governor Jan F Qvigstad said in a statement.
Meanwhile, "inflation is subsiding faster than expected," he added.