Norges Bank, Norway's central bank, used Twitter Inc.'s microblogging service Wednesday to announce that it had lowered its key policy rate by 25 basis points, to 1.25%.
The central bank sent out its "tweet" in conjunction with more traditional communication methods, such as a press release issued the same day about the rate cut. Though the tweet went out in Norwegian, Norges said in a tweet the next day that it would also publish news in English on its Twitter account.
Twitter's service has become increasingly popular with financial companies, including Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co., which generally use it to communicate with customers or promote their offerings.
