Norges Bank memo investigates structure of monetary policy committees


A staff memo published by Norges Bank in January explores the different types of committee structure used by central banks in determining monetary policy.

The authors, Norges Bank deputy governor Jan Qvigstad, Ingimundur Fridriksson and Nina Langbraaten, differentiate between collegial and individualistic committees.

Norges Bank's executive board, the authors say, is a collegial committee, where the committee takes decisions by consensus and members "collectively stand behind" those decisions.


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