Norway: Selected Issues
March 7, 2002
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This Selected Issues paper presents an assessment of Norway’s inflation targeting framework. It describes the institutional framework, and reviews accountability and transparency of the central bank as well as its communication with the public. The paper discusses the design of the framework, and the monetary transmission. It concludes that the institutional framework is appropriate for successful implementation of monetary policy. The new framework provides a more flexible monetary regime that is consistent with Norway’s overall economic policy framework.
Subject: Banking, Consumer price indexes, Consumer prices, Exchange rates, Foreign exchange, Inflation, Inflation targeting, Monetary policy, Prices
Keywords: aggregate demand, Consumer price indexes, Consumer prices, CR, Europe, Exchange rates, Inflation, inflation expectation, inflation rate, inflation target, Inflation targeting, inflation targeting framework, inflation-targeting central bank, ISCR, managed float, monetary policy guideline, monetary policy tool, money market, output gap, policy bias, transmission mechanism
Pages:
29
Volume:
2002
DOI:
Issue:
045
Series:
Country Report No. 2002/045
Stock No:
1NOREA0022002
ISBN:
9781451829730
ISSN:
1934-7685
