Norway's Gjedrem: Business cycles, monetary policy

In a speech 'On business cycles, monetary policy and property markets' given on 26 April, Svein Gjedrem of Norges Bank said the Norwegian economy is growing at a solid pace and there are prospects that growth will remain high.

It has been important to prevent inflation expectations from falling and becoming entrenched at a low level, Gjedrem said. "Surveys of inflation expectations nevertheless indicate that expectations are well anchored around the inflation target in the long term."

"At the

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