Monetary Policy Report

In accordance with the government regulation of 29 March 2001, Norges Bank's implementation of monetary policy shall be oriented towards maintaining low and stable inflation. The operational target of monetary policy is an annual consumer price inflation rate of approximately 2,5 per cent over time. Norges Bank sets the interest rate with a view to stabilising inflation close to the target in the medium term. The horizon will depend on disturbances to which the economy is exposed and the effects on prospects for the path for inflation and the real economy.

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