September 22, 2017 / 11:10 AM / in a month

Norway central bank chief: comfortable with inflation despite recent dip

TRONDHEIM, Norway, Sept 22 (Reuters) - The Norwegian central bank remains confident that core inflation levels will rise in coming years despite a recent dip to just 0.9 percent year-on-year growth in prices, Governor Oeystein Olsen told Reuters on Friday.

The bank targets core inflation of 2.5 percent over time.

“We’re comfortable with the inflation outlook towards the end of 2020, where we see a marked rise in inflation. It will rise to a level close to 2 percent, which we believe is close to the target,” Olsen said on the sidelines of a conference.

“In a system of flexible inflation targeting, that’s in many ways close enough ... As long as the movement is towards the 2.5 percent target, we’re comfortable with that.” (Reporting by Joachim Dagenborg, writing by Terje Solsvik, editing by Gwladys Fouche)

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