Friday 27 August 2021 10:09 am

Norway poised for historic first female as its central bank chief

Norway may appoint a female as its central bank chief for the first time ever, after governor Oystein Olsen announced on Thursday that he will step down in February 2022.

Deputy governor Ida Wolden Bache is in a prime position to succeed Olsen in running monetary policy in the wealthiest Nordic economy, Nordea bank economist Dane Cekov and JP Morgan analyst Morten Lund told Bloomberg, who first reported the news.

Olsen’s departure comes after 11 years in office. In an official statement on the central bank website he said: “There is a time for everything. In January next year I will turn 70 years of age. This is a natural time to round off a long professional career. I have decided to remain in my post to the end of February next year and finish off with my 12th annual address.”

Bache, who holds an MSc in economics from the London School of Economics and Political Science, has served as deputy governor since April 2020, and has held various posts at the central bank since 2013.