March 13, 2020 / 7:59 AM / 16 days ago

Norway central bank offers funding to banks amid virus turmoil

OSLO, March 13 (Reuters) - Norway’s central bank said on Friday it had offered the first in a series of extraordinary loans to the banking industry amid market turmoil caused by the coronavirus outbreak.

The loan, in response to a rise in short-term money market rates, was in line with an announcement on Thursday that Norges Bank would disburse three-month funding via so-called F-loans.

Earlier on Friday, the central bank announced a surprise half-point cut in its key policy interest rate. (Reporting by Terje Solsvik; Editing by Kevin Liffey)

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