Oil Price Collapse Seen Forcing Norway Interest Rate Cut
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A slump in the price of oil is threatening growth in Scandinavia’s richest economy, spurring bets the central bank will need to cut rates by March.
Brent crude has dropped by about $30 a barrel from a June high and is now trading at around $85 amid a supply glut and slower global growth. Some of the world’s biggest banks including Bank of America Corp. and BNP Paribas SA have predicted prices will stagnate at about $80 a barrel.