OSLO, March 9 (Reuters) - The Norwegian central bank is prepared to take measures to aid the economy if necessary, central bank governor Oeystein Olsen said in an emailed statement to Reuters on Monday.
Norwegian stocks fell by more than eight percent on Monday, the largest one-day drop since the financial crisis a decade ago, and the currency weakened by five percent against the euro, as worries about the spreading coronavirus hit global markets.
“Norges Bank is monitoring the situation continuously and taking necessary steps to ensure our systems are operative and that key activities run as normal,” Olsen said when asked to comment on the impact of a plunge in the price of oil, a major export for Norway.
“We’re prepared, and have the necessary procedures to implement measures if required,” Olsen said, adding liquidity at banks was being monitored.
Norges Bank will give its detailed outlook for the Norwegian economy on March 19, when the central bank is due to announce its next interest rate decision, the governor said. (Reporting by Terje Solsvik; Editing by Mark Potter)