Regulation on Monetary Policy
Laid down by Royal Decree on 2 March 2018 pursuant to Section 2, third paragraph, of Act No. 28 of 24 May 1985 on Norges Bank and the Monetary System etc (Norges Bank Act).
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 immediately. Regulation No 278 of 29 March 2001 on Monetary Policy is repealed from the same date.