Source: Bank for International Settlements
In February/March each year, the Centre for Monetary Economics (CME) presents a report commissioned by the Ministry of Finance on Norges Bank’s monetary policy. A committee of independent economists assesses Norges Bank’s conduct of monetary policy. The reports are published by the CME in its Norges Bank Watch Report Series.
First, I would like to thank the members of this year’s committee. A regular assessment of our conduct of monetary policy by an external body is both useful and important. I would also like to thank the Centre for Monetary Economics for hosting this event and for the opportunity to comment on the report.
Let me begin by saying a few words about the conduct of monetary policy in 2024 before commenting on three topics raised by Norges Bank Watch (NBW): how we take international trends into account, our communication of uncertainty and, finally, the trade-offs we make in monetary policy.