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MNI BRIEF: Stoltenberg To Become Norges Bank Head In Dec

(MNI) London

Jens Stoltenberg will be the next Norges Bank governor, taking over from Oystein Olsen, although he will only take up his new job at the start of December. Olsen will stand down by the end of this month, with Norges Bank Deputy Governor Ida Wolden Bache taking over the reins on an iterim basis.

Stoltenberg's candidacy for the Norges Bank's top job was politically controversial in Norway, in light of his close ties to the ruling Labour Party. He, and Wolden Bache, were widely reported to be the two front runners for the job.

The compromise deal will see her guiding the central bank through 2022 and will give him time to continue to deal with the pressing issues facing NATO, with tensions over Ukraine dominating news headlines. Bache starts on March 1 as Governor and the new means Olsen, the former Norwegian Prime Minister and current NATO Secretary General, looks set to give the keynote governor's speech on Feb 17.

MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
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MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
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