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Drop in oil investments a drag on Norway's economy chief
December 16, 2016 / 2:34 PM / a year ago

Drop in oil investments a drag on Norway's economy chief

KONGSVINGER, Norway, Dec 16 (Reuters) - The sharp decline in investments by oil firms is a significant problem for Norway’s economy, central bank Governor Oeystein Olsen said on Friday.

“The fall is significant and a strongly negative impulse hitting the Norwegian economy,” Olsen told a business conference.

“We get a negative impulse, which will be challenging in the time to come,” he added.

Norges Bank on Thursday kept its key policy interest rate unchanged at a record low 0.5 percent and said it would most likely stay around that level in coming years, although it saw a slightly higher probability of a cut than of an increase. (Reporting by Stine Jacobsen, writing by Terje Solsvik, editing by Ole Petter Skonnord)

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