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Norway’s Olsen Says Outlook Is Better Than Some Months Ago

Norway central bank Governor Oeystein Olsen said the economic outlook is better than it was some months ago.

“We note the bright spots that have appeared” in the global economy, Olsen said today in a speech in Oslo.

Though markets continue to be plagued by “great uncertainty,” the krone has “been stable” in recent weeks, he said. The krone is an important channel for the economy and is “very important” for the inflation outlook, he said.

The governor reiterated his view that the bank won’t need to resort to a Swiss-style currency cap to curb the krone’s gains.

“We haven’t discussed it,” he said. “We’re not even close to the same situation Switzerland was in.”

The Swiss National Bank imposed a cap on the franc in September, sending risk-averse investors to alternative currency markets such as Norway’s krone.

To contact the reporter on this story: Jonas Bergman in Oslo at jbergman@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net

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