Norway
Norway's oil fund avoids FX after recent losses
The Bank of Norway said it would not buy foreign exchange for its sovereign wealth fund, the Government Pension Fund, in December. The announcement follows news that Nkr104.4 billion ($18.9 billion) was knocked off the value of the fund, a store of the…
Uncertainty clouds outlook for rates in Norway
Svein Gjedrem, the governor of the Bank of Norway, said on Wednesday that the central bank's interest rate decisions may diverge from the forecasted rate path because of the heightened uncertainty caused by the global financial turmoil.
Norway's oil fund makes a loss in third quarter
The market value of Norway's sovereign wealth fund fell in the third quarter, hit by the global financial turmoil and appreciation of the krone. However, the value of the fund passed Nkr2 trillion ($369 billion) for the first time in October.
European central bank response wins plaudits
The reaction of European central banks to the credit crisis gained International Monetary Fund (IMF) approval on Monday.
Norway leaves key rate at 5%
The Bank of Norway's executive board decided on Wednesday to keep its benchmark sight deposit rate at 5%.
Norway's Gjedrem on monetary policy limitations
Monetary policy cannot influence real economic variables such as output and employment in the long run, according to Svein Gjedrem, the governor of the Central Bank of Norway.
Tough times ahead for bankers: Norway's Gjedrem
Svein Gjedrem, the governor of the Central Bank of Norway, has predicted a fall in the fortunes of the country's banking industry.
The rise of SWFs is unstoppable
Western governments must accept the rise of sovereign wealth funds as a further sign of a shift in the world economy, according to Gerard Lyons, the chief economist at Standard Chartered, a bank.
Egypt to use SIA-SSB payments system
Egypt's central bank picked SIA-SSB, an Italian technology company, to develop its new large-value payments, the company announced at Sibos.
New governance head at Norwegian oil fund
Anne Kvam, a legal director at paper producer Norske Skog, will replace Henrik Syse, as head of corporate governance at Norges Bank Investment Management, the Central Bank of Norway's sovereign wealth fund.
Norway raises rates
Norway's central bank surprised markets by hiking its benchmark rate 25 basis points to 5% on Wednesday.
Knut Kjr quits Norway's oil fund
Knut Kjr announced his resignation as head of Norges Bank Investment Management (NBIM), which manages the country's oil-fuelled $330 billion pension fund and the bulk of the central bank's forex reserves.
Norwegian deputy predicts lower bank profits
Jarle Bergo, the deputy governor of the Central Bank of Norway, said on Thursday that conditions in the property and money markets were likely to drive down commercial banks' profit margins.
Norway pension fund reports results
The Bank of Norway said that the return on Norway's government pension fund was 2.2% in the second quarter.
Norway raises rates to 4.75%
The Central Bank of Norway has increased its key policy rate by 0.25% to 4.75%, despite acknowledging recent market turmoil.
Norges Bank raises benchmark rate
In a widely predicted move, Norway's central bank raised its benchmark interest rate for the eleventh time in two years, moving the deposit rate up by a quarter point to 4.5%.
Sweden's Rosenberg on interest rates
External price pressure and expectations of improvements in productivity were the reasons why Irma Rosenberg, a first deputy governor at Sweden's Riksbank, voted for rates to stay on hold at the monetary policy meeting at the start of the month, she said…
Rates up in Norway and Malta, Poland steady
The central banks of Norway and Malta raised interest rates on 30 May, while rates remained unchanged in Poland.
Norwegian oil fund up 1.5%
Norway's Government Pension Fund - Global produced a total return on investment of 1.5% during the first quarter of 2007, which the Bank of Norway said was 0.09 percentage points above the benchmark set by the government.
Norway's Gjedrem on the conduct of monetary policy
In the speech 'The conduct of monetary policy' given on 10 May Svein Gjedrem of Norges Bank said the fall in prices for imported goods and services and the increase in export prices have provided the Norwegian economy with an appreciable income boost.
Norges Bank Economic Bulletin, April 2007
The latest edition of Norges Bank's Economic Bulletin for April 2007 includes the article 'Interest rate projections in theory and practice'.
Bergo on stabilization & commodity wealth funds
In the speech 'Best practice in structuring stabilization and commodity wealth funds' given on 8 May Jarle Bergo of Norges Bank said the Government Pension Fund and our fiscal guideline have helped us to avoid the common pitfalls in resource rich…
Norges Bank - Annual Report 2006
According to the Norges Bank's Annual Report 2006, inflation has been low and stable and remained fairly close to, but somewhat below 2.5%.
Norway's Gjedrem on the economic outlook
In the speech 'The economic outlook - address to diplomats' given on 22 March Svein Gjedrem of Norges Bank said the bank would continue to tighten monetary policy and that interest rates would rise in the short term.