UPDATE 2-Norwegian companies slash growth outlooks ahead of central bank meeting [Reuters (UK)]
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Source: Reuters
UPDATE 2-Norwegian companies slash growth outlooks ahead of central bank meeting - Reuters 3 Min Read (Adds analyst, inflation, currency) By Terje Solsvik and Victoria Klesty OSLO, March 10 (Reuters) - Norwegian companies saw a rapid slowdown in business activity due to the coronavirus outbreak even before oil prices plummeted on March 9, and over a third slashed their growth outlooks, a central bank business survey showed on Tuesday. The lower price of crude — Norway’s main export — and the virus outbreak have led many forecasters to predict that Norges Bank will slash the cost of borrowing on March 19 in a bid to stave off recession. The quarterly business survey was conducted from Jan. 27 to Feb. 14, and subsequently updated between March 4-6 to capture the impact from the virus. “The outbreak and the measures to contain it appear to have consequences for large segments of the business sector ... Over a third of enterprises participating in the phone survey have revised down their
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