Press conference at 10.30 am (In Norwegian)
Policy rate raised to 1.25 percent
Norges Bank’s Executive Board has decided to raise the policy rate by 0.25 percentage point to 1.25 percent.
Monetary policy shall maintain monetary stability by keeping inflation low and stable
The Storting and Government define the objectives of monetary policy by law and regulation. Norges Bank's role is to contribute to achieving the objectives. The key instrument of monetary policy is the policy interest rate.
Both rapidly rising and falling prices can pose challenges to the economy. The best course of action is therefore to aim for something in between.
The level of the policy rate influences, directly and indirectly, many of the everyday economic decisions you make.
Effective from 21.06.2019
Next rate decision will be announced 15 August.
The new banknote series will be put into circulation in three stages. The first two denominations was launched in 2017. The entire banknote series will be in circulation by the end of 2019.
Norges Bank may decide that banknotes and coins shall be withdrawn from circulation (cf Section 15 of the Norges Bank Act). The decision is announced in the Norsk Lovtidend (Norwegian Legal Gazette) and major national newspapers in Norway.
Norges Bank shall contribute to a robust and efficient financial system
The role of issuer of means of payment and ultimate settlement bank for interbank payments in Norway gives Norges Bank a particular responsibility for fostering efficient and secure payment systems.
There are primarily two types of money in the payment system, notes and coins issued by Norges Bank (cash) and deposits in banks (deposit money).
A well-functioning financial system is fundamental to a modern economy, and banks perform important functions for society. They must therefore be secure.
Norges Bank publishes four reports that provide an overview of the financial system, development trends, vulnerabilities and oversight activities.
Norges Bank manages the portfolios of the Government Pension Fund Global and the Bank’s own foreign exchange reserves
The Fund's market value
Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global, also known as the Oil Fund.
The foreign exchange reserves are the Bank's contingency funds in international currencies and are to be available for use in foreign exchange market transactions as part of the conduct of monetary policy or with a view to promoting financial stability and to meet Norges Bank's international commitments.
Norges Bank’s mission is to promote economic stability and manage substantial assets on behalf of the Norwegian people.
The Bankplassen blog is a venue for knowledge sharing. The main contributors are persons employed by or associated with Norges Bank’s central banking operations.
Can you learn about economics and have fun at the same time? We think so.