February 9, 2017 / 10:02 AM / a year ago

Norway's central bank says must increase currency buffer portfolio

OSLO, Feb 9 (Reuters) - The Norwegian central bank must increase the size of its foreign exchange buffer portfolio, known as the PBP, in order to manage the rising spending of cash from the country’s sovereign wealth fund, it said on Thursday.

The $895 billion portfolio of stocks, bonds and real estate is the world’s largest sovereign wealth fund. Norway has raised its spending from the fund in recent years to compensate for an economic downturn triggered by lower oil prices. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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