Norway lowers inflation target and changes policy mandate

Norges Bank

Norway’s government has cut the central bank’s annual inflation target to 2.0% from 2.5%, and changed its monetary policy framework to emphasise achieving a high employment level and financial stability.

The changes were announced in a statement issued today (March 2). Norway adopted the 2.5% inflation target in 2001, and that goal was above the 2% objective chosen by most neighbouring central banks, such as those in the UK, Sweden or the eurozone.

Norwegian central bank governor Øystein Olsen

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