Norway: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Norway
Electronic Access:
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Summary:
Norway’s near-term macroeconomic priority is to reduce risks arising from high-household debt by tightening macroprudential standards for mortgage lending while undertaking tax reforms to gradually reduce incentives for excessive leverage. Creating a stronger institutional framework for acroprudential policy would also assist risk mitigation in the future. With the output gap closing, fiscal tightening is needed over the medium term in the central scenario to rebuild precautionary buffers and ensure that fiscal guidelines are met on average over the cycle.
Series:
Country Report No. 2012/025
Subject:
Banking Financial institutions Financial sector policy and analysis Housing prices Inflation Loans Macroprudential policy Mortgages Prices
English
Publication Date:
February 2, 2012
ISBN/ISSN:
9781463940379/1934-7685
Stock No:
1NOREA2012001
Pages:
72
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