Monetary Policy Report 1/09
	Chart 1.1 Indicator for world trade
	Chart 1.2 GDP in industrial countries
	Chart 1.3 Unemployed
	Chart 1.4 key rates and estimated forward rates
	Chart 1.5 Interest rate premiums on government debt
	Chart 1.6 Key policy rate, money market rate and banks’ lending rate on new loans
	Chart 1.7 Difference between 3-month money market rate and key policy rate expectations in the market
	Chart 1.8 Developments in equity markets
	Chart 1.9 Exchange rates
	Chart 1.10  Consumer prices
	Chart 1.11 Expected consumer price inflation 2 and 5 years ahead
	Chart 1.12 Differential between long-term forward interest rates in Norway and the euro area
	Chart 1.13  Inflation. Moving 10-year average
	Chart 1.14 Real exchange rate
	Chart 1.15a Projected key policy rate in the baseline scenario with fan chart
	Chart 1.15b Estimated output gap in the baseline scenario with fan chart
	Chart 1.15c Projected CPI in the baseline scenario with fan
	Chart 1.15d Projected CPIXE
	Chart 1.16 Key policy rate in the baseline scenario in MPR 2/08
	Chart 1.17 Money market rate differential between Norway and tradingpartners, and the import-weighted exchange rate index (I-44)
	Chart 1.18 Projected inflation and output gap in the baseline scenario
	Chart 1.19 Key policy rate, Taylor rule, growth rule and rule with external interest rates
	Chart 1.20 Key policy rate and interest rate developments that follow from Norges Bank’s average pattern of interest rate setting
	Chart 1.21 Money market rate in the baseline scenario and estimated forward rates
	Chart 1.22 Household saving
	Chart 1.23 Household net lending, debt accumulation and transactions in financial items
	Chart 1.24a Key policy rate in the baseline scenario and the alternative scenarios with higher and lower demand
	Chart 1.24b The output gap in the baseline scenario and the alternative scenarios with higher and lower demand
	Chart 1.24c CPIXE in the baseline scenario and the alternative scenarios with higher and lower demand
	Chart 1 Key policy rate in the baseline scenario in MPR 3/08 with fan chart and key policy rate in the baseline scenario from 17 December 2008 and MPR 1/09
	Chart 2 Factors behind changes in the interest rate path since MPR 3/08
	Chart 3 Factors behind changes in the interest rate path since 17 December 2008
	Chart 1.25 Interval for the key policy rate at the end of each strategy period, actual developments and projection
	Chart 2.1 Consumer confidence
	Chart 2.2 Unemployed
	Chart 2.3 Oil price
	Chart 2.4 Commodity prices
	Chart 2.5 CPI and CPIXE
	Chart 2.6 CPI-ATE
	Chart 2.7 Unit labour costs, mainland Norway and domestically produced goods and services
	Chart 2.8 Indicator of external price impulses to imported consumer goods measured in foreign currency
	Chart 2.9 CPI-ATE. Actual figures, baseline scenario and  projections by SAM
	Chart 2.10 Energy component of the CPI and estimated trend
	Chart 2.11 Mainland GDP
	Chart 2.12 Actual production and production as expected in next 6 months
	Chart 2.13 Mainland GDP. Actual figures, our baseline scenario and projections by SAM
	Chart 2.14 Exports from mainland Norway
	Chart 2.15 Manufacturing investment statistics
	Chart 2.16 Number of housing starts by type of dwelling
	Chart 2.17 Household real disposable income and consumption
	Chart 2.18 Actual employment and expected employment in next 3 months
	Chart 2.19 Hourly productivity
	Chart 2.20 Annual wage growth and LFS unemployment
	Chart 2.21 Expected annual wage growth same year
	Chart 2.22 Non-oil deficit
	Chart 2.23 Structural non-oil deficit and expected real return on the Government Pension Fund – Global
	Chart 2.24 Investment statistics for the petroleum industry
	Chart 2.25 Oil investment
	Chart 1 Industrial manufacturing production in major advanced economies
	Chart 2 Exports from major emerging market economies
	Chart 3 Industrial manufacturing production in major emerging market economies
	Chart 4 Selected sovereign CDS prices
	Chart 5 Household debt
	Chart 6 Projected future GDP growth among our trading partners. Compared with growth in GDP in the OECD countries during two earlier downturns
	Chart 1 Factors behind changes in the interest rate path from MPR 3/07 to MPR 2/08 (first half of 2008)
	Chart 2 Factors behind changes in the interest rate path from MPR 2/08 to monetary policy meeting in December 2008 (second half of 2008)
	Chart 3 CPI. Projections from various reports and actual figures
	Chart 4 CPI-ATE. Projections from various reports and actual figures
	Chart 5 CPI. Projections of annual growth in 2008 at different times
	Chart 6 CPI-ATE. Projections of annual growth in 2008 at different times
	Chart 7 The output gap. Projections in the baseline scenario in MPR 3/07 with fan chart and projections from other reports
	Chart 8 Mainland GDP. Projections of annual growth in 2008 at different times