BERGEN: Norway's monetary policy should support a weakening of the country's crown currency to help the economy adjust to lower activity in the oil industry, central bank Governor Oeystein Olsen said on Tuesday.
"The price of crude has fallen and the (oil industry's) activity level is becoming lower.
We must reposition ourselves in export oriented industries and must improve our competitiveness," Olsen told a business conference.
"That can take place through cost cuts and through a weakening of the crown currency. Monetary policy can and should promote a weaker crown if possible," he added.
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