The Government has defined an inflation target for monetary policy in Norway. Norges Bank's conduct of monetary policy shall be oriented towards low and stable inflation. The operational target of monetary policy shall be annual consumer price inflation of close to 2.5 per cent over time.
Monetary policy shall also contribute to stabilising output and employment. Norges Bank's most important monetary policy instrument is the key policy rate, which is the interest rate on banks' deposits in Norges Bank.
- More about monetary policy in Norway