Norges Bank Watch 2005

Abstract

Monetary policy in Norway is quite successful. The series of cuts in the signalling rate starting in December 2002, and a low interest rate during 2004, seems the appropriate policy choice. The analyses on monetary policy done in the Bank document a highly competent staff. Communication with the market is good and steadily improving. Not surprisingly, there is still room for improvement in the conduct of monetary policy in Norway. Those areas should receive particular attention in a Report like this one. In our best judgment, Norges Bank is overall doing a very good job, however.