Regulation on Monetary Policy
Laid down by Royal Decree of 13 December 2019 pursuant to Section 1-4, Sub-section 1, of the Act of 21 June 2019 No. 31 on Norges Bank and the Monetary System etc (Central Bank Act). Issued by the Ministry of Finance.
Monetary policy shall maintain monetary stability by keeping inflation low and stable.
Norges Bank is responsible for the implementation of monetary policy.
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.
Norges Bank shall regularly publish the assessments that form the basis of the implementation of monetary policy.
This regulation enters into force on 1 January 2020. The Regulation of 2 March No. 305 on Monetary Policy is repealed from the same date.