Policy rate raised to 3 percent
Norges Bank's Monetary Policy and Financial Stability Committee has decided to raise the policy rate from 2.75 percent to 3 percent.
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Monetary policy
Monetary policy shall maintain monetary stability by keeping inflation low and stable
Norges Bank’s monetary policy strategy statement
Norges Bank’s monetary policy strategy describes the Committee’s interpretation of the monetary policy mandate.
Why do we want low and stable inflation?
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.
How does the policy rate influence you?
The level of the policy rate influences, directly and indirectly, many of the everyday economic decisions you make.
Policy rate
3%
Effective from 24.03.2023
Next policy rate decision will be announced on 4 May 2023
Rate decision MarchNotes and coins
How to exchange old banknotes
Follow our guide for how to exchange your old notes and coins. Please make sure that you fill out the exchange form prior to your arrival.
Current notes and coins
See the current banknotes and coins in Norway
Exchange rates
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Norges Bank quotes some 40 exchange rates. Publication time of daily exchange rates is approximately 16:00 CET.
Financial stability
Norges Bank shall contribute to a robust and efficient financial system
Financial stability - a primary objective
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.
How are payments made?
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).
Why are banks so important?
A well-functioning financial system is fundamental to a modern economy, and banks perform important functions for society. They must therefore be secure.
Reports on financial stability
Norges Bank publishes four reports that provide an overview of the financial system, development trends, vulnerabilities and oversight activities.
Investment management
Norges Bank manages the portfolios of the Government Pension Fund Global and the Bank’s own foreign exchange reserves
Oil fund
Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global, also known as the Oil Fund.
Foreign exchange reserves
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.
About the Bank
Climate and the economy
Read about Norges Bank's work on climate risk
Bankplassen blog
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.
