Norges Bank's Olsen defends ‘leaning against the wind' policy
Governor says bank cannot assume regulation will eliminate risk of financial stress
While banking regulation and supervision must be the first line of defence against shocks to the financial system, "we cannot proceed under the assumption that new regulations will eliminate the risk of financial stress," Norges Bank governor Øystein Olsen said today during a speech in Oslo.
"In Norway, inflation has on average been somewhat below, but close to, 2.5% in recent years. Activity has been close to a normal level and unemployment has remained low," Olsen said. "At the same time
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