Norway on Bubble Watch as Anxiety Over Oil Plunge Recedes

The central bank governor of western Europe’s biggest crude producer is becoming less concerned over the plunge in oil prices.

Threats from Norway’s hot housing market have trumped anxiety that forced Governor Oeystein Olsen, 63, to deliver a surprise rate cut in December, when oil sank to about $63. That rate reduction has helped mitigate risks of an oil-induced crisis, as evidence in the real economy shows, he said.