Norway central bank chief Olsen will seek a 2nd term

Norway central bank chief Olsen copy

Oslo / Reuters

The governor of the Norwegian central bank will apply for a second, and final, six-year term, he told Reuters.
“I am motivated to continue as governor, and can confirm that I will apply,” Olsen said.
Oeystein Olsen Olsen, 64, has been governor of Norges Bank since January 2011. His six-year term can only be renewed once.
By flagging his intentions, Olsen may scare off any other serious contender. In Norway, it is customary for governors to have their terms renewed.
The bank is fighting a downturn in the Norwegian economy prompted by the slump in oil prices. It cut its key policy rate to a record low of 0.50 percent this month and said it may cut again in the autumn.
Olsen’s comments came after his position was advertised on Sunday.
“Solid knowledge of monetary policy, financial markets and capital management is required,” said the advertisement, published in the Sunday edition of the daily Aftenposten and on the website of the Norwegian state’s job positions. The head of the central bank also heads the bank’s board and is responsible for the country’s sovereign wealth fund, the world’s largest.

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