The interest rate setting in the past 2-3 years has contributed to a strong development of the Norwegian economy. Now, the issue is when and by how much monetary policy should be tightened, concludes “Norges Bank Watch 2006”, published by BI The Norwegian School of Management.
The Centre for Monetary Economics (CME) at the BI Norwegian School of Management has for the seventh time invited a committee of leading economists for Norges Bank Watch with the objective of evaluating monetary policy in Norway. The Norges Bank Watch 2006 Report was released on 9 March 2006. The report was commented by Norges Bank Governor Svein Gjedrem.
The main task of the committee has been to evaluate how well Norges Bank has fulfilled its monetary policy mandate given by the Norwegian Government. Norway adopted an inflation target for the monetary policy five years ago, in March 2001. Although some countries had pursued inflation targeting for many years, this type of monetary regime was still in its infancy.
Audun Farbrot | alfa
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