Norges Bank Market News

Norway's Norges Bank has responsibility not just for monetary policy but also financial stability and it manages the country's vast sovereign wealth fund, the Government Pension Fund Global (GPFG). A single body, the Monetary Policy and Financial Stability Committee, integrates decision making on the monetary and stability wings and comprises the Governor, two Deputy Governors and two external members. It meets eight times a year but four are interim meetings. The focus is on the other four meetings, those that are accompanied by a Monetary Policy Report which contains the committee's collective projection of future policy rates. Norges Bank is owned by the state and the government sets its inflation objective, currently at 2%.