Norway's Bergo on oil prices & developments

In a speech on 'Oil prices, cyclical developments and monetary policy' given on 12 November, Jarle Bergo of Norges Bank said that high oil prices so far have had a limited impact on the domestic economy and would not significantly affect the balance in the Norwegian foreign exchange market.

Bergo said in the speech, based on the bank's previous assessments, that high oil prices had mixed effects on the economy of the world's third biggest oil exporter.

"Lower demand abroad will have a negative

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