The Executive Board's monetary policy meetings
The conduct of monetary policy is one of the Executive Board's most important tasks. Decisions concerning interest rates and other important changes in the use of instruments will normally be taken at the Executive Board's monetary policy meeting every sixth week. The dates of monetary policy meetings are announced in advance.
Interest rate decisions are announced at 2 pm on the day of the monetary policy meeting. The central bank governor or deputy central bank governor provides an account of the interest rate decision at a press conference at 2.45 pm. A press release discusses the background for the interest rate decision. The press conference is webcast on Norges Bank's website.
The analyses and the monetary policy strategy presented in the Monetary Policy Report, together with assessments of price and cost developments and conditions in the money and foreign exchange markets, form a basis for monetary policy decisions.
The main features of the analysis in the Monetary Policy Report are presented to the Executive Board for discussion at a meeting about two weeks before the Report is published. Themes of relevance to the report have been discussed at a previous meeting. On the basis of the analysis and discussion, the Executive Board assesses the consequences for future interest rate developments and adopts a monetary policy strategy, including alternative strategies. The decision to adopt a monetary policy strategy is made on the same day as the report is published. The strategy applies for the period up to the next report and is presented at the end of Section 1 in the Monetary Policy Report.