Norway's Bergo on interest rate projections

In the speech 'Interest rate projections in theory and practice' given on 26 January Jarle Bergo of the Norges Bank said the benefit of commitment hinges on the credibility of the central bank's actions and communication.

"Thus, it can be argued that it is important to adhere to the previously communicated response pattern and behave consistently over time. This puts the central bank in a better position to utilise the expectations channel. Inflation can then over time be stabilised with

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