You are here

Norway central bank okay with housing deflation

It will avoid policies that drive up the property market: adds governor
Thursday, October 31, 2013 - 06:00
BT_20131031_SAFER31_817320.jpg
Downward reaction: Norway's economy can withstand house price declines 'over a longer period', according to the central bank chief. - PHOTO: BLOOMBERG

[OSLO] Norway's central bank is comfortable with house price deflation and will avoid policies that drive up the property market of Scandinavia's richest economy, governor Oeystein Olsen said. The economy can withstand house price declines "over a longer period", Mr Olsen said on Tuesday in an