Norges Bank issued a statement on the new regulation in a letter to the Ministry of Finance on 10 September 2026.

“The new regulation will not entail any changes to the conduct of monetary policy”, says Governor Ida Wolden Bache.

The regulation, which was adopted in the Council of State on 18 September 2026, reads as follows:

Section 1. Monetary policy shall maintain monetary stability by keeping inflation low and stable.

Section 2. The operational target of monetary policy shall be annual consumer price inflation of close to 2 percent over time. Inflation targeting shall be forward-looking and flexible so that it can contribute to high and stable output and employment and to counteracting the build-up of financial imbalances.

Section 3. The regulation enters into force with immediate effect. The Regulation of 13 December No. 1775 on Monetary Policy is repealed from the same date.