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).
Section 1
Monetary policy shall maintain monetary stability by keeping inflation low and stable.
Section 2
Norges Bank is responsible for the implementation of monetary policy.
Section 3
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 4
Norges Bank shall regularly publish the assessments that form the basis of the implementation of monetary policy.
Section 5
This regulation enters into force immediately. Regulation No 278 of 29 March 2001 on Monetary Policy is repealed from the same date.