Øystein Olsen Gets Second Term as Norges Bank Governor

Photo credit: Norges Bank / Nils S. Aasheim

Photo credit: Norges Bank / Nils S. Aasheim

Øystein Olsen was appointed Governor of Norges Bank by the Council of State for a second six-year term on May 27, 2016.

“I look forward to a new term as Central Bank Governor. Together with Norges Bank’s highly competent and engaged staff, I am delighted to undertake our important public tasks both within the central bank’s core areas and investment management”, says Øystein Olsen in a press release.

Olsen has been governor since 2011. He has not ruled out sending interest rates into negative territory, a move embraced by his Nordic neighbors such as Denmark and Sweden. Norwegian policymakers decided to cut rates in March 2016. Norway’s oil dependent economy has been smacked hard by the drop in global oil prices.


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