Norges Bank

Monetary Policy and Financial Stability Committee

The Monetary Policy and Financial Stability Committee is appointed by the King in Council. The Committee consists of the Governor, the two Deputy Governors and two external members.

The Committee is responsible for Norges Bank’s role as the executive and advisory monetary policy authority and is responsible for the use of policy instruments to attain the monetary policy objectives. The Committee shall contribute to the promotion of financial stability by providing advice and using the policy instruments at its disposal.

Members:

Øystein Olsen

Re-appointed Governor of Norges Bank and Chair of the Executive Board on 1 January 2017 for a second six-year term. Øystein Olsen has held this post since 1 January 2011.

His work experience includes posts as Director General of Statistics Norway and Director General at the Ministry of Finance. He also chaired or was a member of several government-appointed commissions. Øystein Olsen holds a postgraduate degree in economics (Cand. oecon.) from the University of Oslo.

Ida Wolden Bache

Appointed Deputy Governor with particular responsibility for central banking operations for the period 1 April 2020–31 March 2026. Bache is First Deputy Chair of the Monetary Policy and Financial Stability Committee and Second Deputy Chair of the Executive Board.

Her work experience includes posts as Executive Director of Norges Bank Monetary Policy and Norges Bank Financial Stability and as a macroeconomist at Handelsbanken Capital Markets. Since 2017, Bache has been a member of the Systemic Risk Council in Denmark. Ida Wolden Bache holds a doctorate in economics from the University of Oslo and a master’s degree from the London School of Economics.

Jon Nicolaisen

Appointed Deputy Governor with particular responsibility for the Government Pension Fund Global for the period 1 April 2020–31 December 2023. Nicolaisen is First Deputy Chair of the Executive Board and Second Deputy Chair of the Monetary Policy and Financial Stability Committee.

His work experience includes posts as Principal Officer and Deputy Head of the Economic Policy Department of the Ministry of Finance, Head of Section at the OECD Secretariat and Executive Director of Norges Bank Monetary Policy. Jon Nicolaisen holds a postgraduate degree in economics (Cand. oecon.) from the University of Oslo.

Ingvild Almås

Appointed Committee member for the period 1 January 2020 – 31 December 2021.

Ingvild Almås holds a professorship at the Institute for International Economic Studies (IIES), Stockholm University, Principal Investigator at the Norwegian School of Economics’ FAIR centre and International Research Fellow at the Institute for Fiscal Studies (London), Centre for Economic Policy Research (CEPR), and CESifo. She previously held a professorship at NHH. She sits on the Scientific Advisory Board for the Max Planck Institute for Research on Collective Goods in Bonn, Germany, and chairs the Portfolio Board for Welfare, Culture and Society at the Research Council of Norway. Ingvild Almås is also on the Nobel Symposium Committee. She has been one of the chief editors of the Scandinavian Journal of Economics and an associate editor of a number of journals. Ingvild Almås holds a BA in economics from the University of Oslo and a PhD in economics from NHH.

Jeanette Fjære-Lindkjenn

Appointed Committee member for the period 1 January 2020 – 31 December 2023. 

Jeanette Fjære-Lindkjenn is a fellow at Housing LAB, the national centre for housing research at Oslo Metropolitan University. She has previously worked for DNB Markets as a macroeconomist and for Norges Bank as an analyst. Jeanette Fjære-Lindkjenn holds a degree in economics from the University of Oslo.

Upcoming interest rate decisions

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