(07.11.2007)

Governor, Svein Gjedrem hosted the Inaugural Ceremony of NBIM’s new Shanghai office on Tuesday evening (local time). Norges Bank/NBIM has established a representative office in Shanghai to extend its presence in Asia and enable NBIM to operate in all time zones on one common IT platform.

(05.11.2007)

The Nordic-Baltic representative on the IMF Executive Board has published his half-yearly report concerning key issues dealt with by the Board since April 2007. The report describes the work on a strategic review of the IMF’s activities, with particular emphasis on reform of the quota and voting rights system, monitoring of the economic situation of member countries and IMF's income system.
Read the report from the Nordic-Baltic office (pdf, 72 kB)

(02.11.2007)

Deputy Governor Jarle Bergo gave a speech in Trondheim on Friday, 5 October at Kredittseminaret 2007 (The Credit Seminar 2007). The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 31 October and Monetary Policy Report 3/07.

(01.11.2007)

In 2008 it will be 200 years since the birth of Norway’s national poet, Henrik Wergeland. To commemorate this event, Norges Bank will issue a special edition circulation coin and a silver commemorative coin.

(31.10.2007)

Norges Bank’s Executive Board decided today to leave its key policy rate unchanged. Norges Bank's key policy rate (sight deposit rate) thus remains at 5.00 per cent.
Webcast of press conference at 2.45 pm (In Norwegian)

(31.10.2007) The Monetary Policy Report assesses the interest rate outlook and includes projections for developments in the Norwegian economy, analyses of selected themes and a summary of Norges Bank’s regional network. The Executive Board's assessment of the economic outlook and the monetary policy strategy are presented at the end of Section 1 in the report.

(31.10.2007) Invitation to Treasury bill auction is now available on our website.

(31.10.2007)

In November, Norges Bank will purchase foreign exchange equivalent to NOK 1 250 million per day for the Government Pension Fund – Global.

(26.10.2007) Economic Bulletin 3/2007 is now available on our website.

(24.10.2007) Governor Svein Gjedrem gave a speech at a conference hosted by The Federation of Norwegian Professional Associations in Oslo on 24 October.

(22.10.2007)

On Saturday 20 October 2007, the IMF's International Monetary and Financial Committee held its sixteenth meeting in Washington D.C. Finland's Minister of Finance, Jyrki Katainen, who currently represents the Nordic-Baltic constituency on this committee, made a statement on behalf of the Nordic and Baltic countries. Mr. Nils Bernstein, Governor of Danmarks Nationalbank, made a statement at the IMF's Annual Meeting on Monday, 22 October.
The IMFC communiqué
Statement by Jyrki Katainen, Minister of Finance, Finland
Statement by Nils Bernstein, Central Bank Governor, Denmark

(15.10.2007) Invitation to government bond auctions is now available on our website.

(11.10.2007) Governor Svein Gjedrem gave a speech at the annual meeting of the Norwegian Savings Banks Association in Hamar on 11 October.

(10.10.2007) Invitation to Treasury bill auction is now available on our website.

(05.10.2007)

Governor Svein Gjedrem gave a speech for Norges Bank’s regional network, arranged by Eramet Norway Sauda and International Research Institute of Stavanger (IRIS), in Sauda on Friday, 5 October. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 26 September, Monetary Policy Report 2/07 and previous speeches.

(04.10.2007)

Governor Svein Gjedrem gave a speech at a seminar arranged by The Norwegian Petroleum Society, The Maritime Forum of Norway and Stord/Haugesund University College in Haugesund on Thursday, 4 October. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 26 September, Monetary Policy Report 2/07 and previous speeches.

(28.09.2007)

In October, Norges Bank will purchase foreign exchange equivalent to NOK 880 million per day for the Government Pension Fund – Global.

(27.09.2007) Summaries of reports from Norges Bank’s regional network are now available.

(27.09.2007) Governor Svein Gjedrem gave a speech at the annual conference for managers of small and medium-sized enterprises (SMB-dagen) in Bergen on Thursday, 27 September 2007. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 26 September and in Monetary Policy Report 2/07.

(26.09.2007)

Norges Bank’s Executive Board decided today to raise its key policy rate (sight deposit rate) by 0.25 percentage point to 5.00 per cent with effect from 27 September 2007.
Webcast of press conference at 2.45 pm (In Norwegian)

(26.09.2007) Anne Kvam has been appointed new head of Corporate Governance at Norges Bank Investment Management, NBIM. Kvam is 40 and will join the Bank from her current post as legal director at Norske Skog. She will succeed Henrik Syse who has headed Corporate Governance since its inception in 2005.

(25.09.2007) The average daily turnover in the Norwegian foreign exchange market was USD 32 billion in April 2007, an increase of 123% from April 2004. The average daily turnover in the OTC derivatives market was USD 6.7 billion in April 2007, an increase of 31% from April 2004.

(19.09.2007)

Knut N. Kjær resigns as head of Norges Bank Investment Management (NBIM). NBIM manages the USD 328 billion Government Pension Fund – Global and the bulk of Norges Bank’s foreign exchange reserves.

(17.09.2007) Governor Svein Gjedrem gave a speech for the Centre for Monetary Economics/BI in Oslo on Monday 17 September 2007. The address is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 August, Monetary Policy Report 2/07 and on previous speeches.

(14.09.2007)

Speech by Deputy Governor Jarle Bergo for Norges Bank’s regional network in Mosjøen and Mo i Rana on Friday, 14 September. The speeches are based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 August, Monetary Policy Report 2/07 and previous speeches.

(14.09.2007)

Governor Svein Gjedrem addressed meetings hosted by Sparebank 1 Nord-Norge in Kirkenes and Tromsø on 13 and 14 September. The addresses are based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 August, Monetary Policy Report 2/07 and previous speeches.

(14.09.2007)

Deputy Governor Jarle Bergo gave a speech in Mosjøen for Norges Bank’s regional network on Friday, 14 September. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 August, Monetary Policy Report 2/07 and previous speeches.

(13.09.2007)

Governor Svein Gjedrem addressed a meeting hosted by Sparebank 1 Nord-Norge in Kirkenes. The address is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 August, Monetary Policy Report 2/07 and previous speeches.

(13.09.2007)

Deputy Governor Jarle Bergo addressed a banking industry seminar in Oslo organised by NFF and the Norwegian Savings Banks Association. The address is based on the assessments presented at Norges Bank's press conference following the Executive Board's monetary policy meeting on 15 August, in Financial Stability 1/07 and in previous speeches.

(12.09.2007) Invitation to Treasury bill auction is now available on our website.

(06.09.2007) Deputy Governor Jarle Bergo addressed ACI Norge – The Financial Markets Association at Høvikodden on Thursday, 6 September. The address is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 August and in Monetary Policy Report 2/07.

(04.09.2007) Invitation to government bond auctions is now available on our website.

(31.08.2007)

In September, Norges Bank will purchase foreign exchange equivalent to NOK 730 million per day for the Government Pension Fund – Global.

(29.08.2007) Invitation to Treasury bill auction is now available on our website.

(21.08.2007)

The return on the Government Pension Fund – Global was 2.2 per cent in the second quarter. The advance in international equity markets contributed to the return, particularly in Europe, the US and emerging markets. The return on the international equity portfolios managed by Norges Bank was 7.4 per cent. Interest rates rose in key markets with the result that bond prices edged down, so that the return on the fixed income portfolios was -1.2 per cent.
Webcast of press conference (in Norwegian)

(15.08.2007)

Norges Bank’s Executive Board decided today to raise its key policy rate (sight deposit rate) by 0.25 percentage point to 4.75 per cent with effect from 16 August 2007.

(31.07.2007)

In August, Norges Bank will purchase foreign exchange equivalent to NOK 470 million per day for the Government Pension Fund – Global.

(29.06.2007) Economic Bulletin 2/2007 is now available on our website.

(29.06.2007) Summaries of reports from Norges Bank’s regional network are now available.

(29.06.2007)

In July, Norges Bank will purchase foreign exchange equivalent to NOK 670 million per day for the Government Pension Fund – Global.

(27.06.2007) The Monetary Policy Report assesses the interest rate outlook and includes projections for developments in the Norwegian economy, analyses of selected themes and a summary of Norges Bank’s regional network. The Executive Board's assessment of the economic outlook and the monetary policy strategy are presented at the end of Section 1 in the report.

(27.06.2007)

Norges Bank’s Executive Board decided today to raise its key policy rate (sight deposit rate) by 0.25 percentage point to 4.50 per cent with effect from 28 June 2007.

Webcast of press conference at 2.45 pm (In Norwegian)

(13.06.2007) Invitation to Treasury bill auction is now available on our website.

(07.06.2007)

Norges Bank has introduced a new technical solution for internet publishing. This will not result in any substantial changes in the website, but some adjustments in design and structure have been made in order to increase availability and user-friendliness. For example, the size of the text can be enlarged and the width of the page can be adjusted according to users' needs. In addition, all links are underlined to make them more visible. In the new solution, the web pages have new URL addresses. This means that links that have been stored under “favourites” will generally not work. We apologise for any inconvenience this may cause.

(05.06.2007) Invitation to government bond auctions is now available on our website.

(05.06.2007)

Norges Bank considers the overall outlook for the financial system in Norway to be satisfactory, despite an increase in the vulnerability of Norwegian household sector. The household debt-to-income ratio has never been higher. A rising number of households are opting for interest-only loans and almost all their loans are floating-rate loans. Many new borrowers have a high loan to collateral value ratio. At the same time, interest rates are rising.

(04.06.2007) The Annual report on payment systems 2006 is now available on our website.

(01.06.2007)

Deputy Governor Jarle Bergo gave a speech at a seminar hosted by DnB NOR in Stavanger on Friday, 1 June. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 30 May, Monetary Policy Report 1/07 and previous speeches.

(31.05.2007)

In June, Norges Bank will purchase foreign exchange equivalent to NOK 400 million per day for the Government Pension Fund – Global.

(30.05.2007)

Norges Bank’s Executive Board decided today to raise its key policy rate (sight deposit rate) by 0.25 percentage point to 4.25 per cent with effect from 31 May 2007.
Webcast of press conference at 2.45 pm (In Norwegian).

(22.05.2007)

The return on the Government Pension Fund – Global was 1.5 per cent in the first quarter. The rise in international equity markets made the largest contribution to the return. Norges Bank achieved an excess return of 0.09 percentage point compared with the return on the benchmark portfolio defined by the Ministry of Finance. 
Webcast of press conference (In Norwegian).

(14.05.2007) Deputy Governor Jarle Bergo gave a presentation on Norges Bank’s experiences with the organisation of the Government Pension Fund – Global, at the G-20 Workshop on Commodity Cycles and Financial Stability in Washington on Saturday, 12 May.

(11.05.2007)

Governor Svein Gjedrem gave a speech for Norges Bank’s regional network, arranged by Agderforskning and Sparebanken Pluss, in Kristiansand on Friday, 11 May. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 25 April, Monetary Policy Report 1/07 and previous speeches.

(10.05.2007)

The Governor of Norges Bank appeared before the Standing Committee on Finance and Economic Affairs of the Storting (Norwegian parliament) on 10 May at an open hearing on the conduct of monetary policy.

(09.05.2007) Invitation to Treasury bill auction is now available on our website.

(09.05.2007)

In 2006, Norwegians used their payment cards more than 200 times each and made over 30 payments through Internet banks. “The use of payment cards and Internet banking is rising sharply. This confirms that Norwegian bank customers have access to a highly efficient payment system”, says Governor Svein Gjedrem in connection with the presentation of Norges Bank’s Annual Report on Payment Systems for 2006. This report is the twentieth in a series of reports.

(08.05.2007) Deputy Governor Jarle Bergo gave a presentation on the experience gained from managing the Government Pension Fund’s international assets, at the European Institute's Sovereign Funds Roundtable in London on Tuesday, 8 May.

(07.05.2007) The Nordic-Baltic representative on the IMF Executive Board has published his half-yearly report concerning key issues dealt with by the Board since September 2006. The report describes the work on a strategic review of the IMF’s activities, with particular emphasis on reform of the quota and voting rights system, monitoring of the economic situation of member countries and IMF's income system.

(04.05.2007) Norges Bank's Annual Report 2006 is now available on our website.

(03.05.2007) Economic Bulletin 1/2007 is now available on our website.

(02.05.2007) Invitation to government bond auctions is now available.

(30.04.2007)

In May, Norges Bank will purchase foreign exchange equivalent to NOK 540 million per day for the Government Pension Fund – Global.

(27.04.2007) Summaries of reports from Norges Bank’s regional network are now available.

(25.04.2007)

Norges Bank’s Executive Board decided today to leave the key policy rate unchanged. Norges Bank’s key policy rate, the sight deposit rate, remains at 4.00 per cent.

Webcast of press conference

(16.04.2007)

On Saturday, 14 April 2007, the IMF's International Monetary and Financial Committee held its semi-annual meeting in Washington D.C. The Finnish Minister of Finance, Mr Eero Heinäluoma, who currently represents the Nordic-Baltic constituency on this committee, made a statement on behalf of the Nordic and Baltic countries.

(12.04.2007)

Governor Svein Gjedrem gave two speeches in Bodø on Thursday, 12 April – in Bodø Kulturhus at a seminar arranged by Nordea Bodø and at Bodø University College. Both speeches are based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 March, Monetary Policy Report 1/07 and previous speeches.

(12.04.2007)

Governor Svein Gjedrem gave a speech at a seminar arranged by Nordea Bodø in Bodø on Thursday, 12 April. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 March, Monetary Policy Report 1/07 and previous speeches.

(11.04.2007) Invitation to Treasury bill auction is now available.

(11.04.2007) Governor Svein Gjedrem gave a speech at a seminar arranged by Bergen Chamber of Commerce and Industry in Bergen on Wednesday, 11 April. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 March and Monetary Policy Report 1/07.

(30.03.2007)

In April, Norges Bank will purchase foreign exchange equivalent to NOK 670 million per day for the Government Pension Fund – Global.

(26.03.2007)

The International Monetary Fund (IMF) carries out an assessment of the Norwegian economy at regular intervals. In the period 15 - 26 March, a delegation from the IMF visited Norway to gather information about the economic and financial situation and to discuss economic policy.

(23.03.2007)

Governor Svein Gjedrem gave a speech in Melhus at a seminar arranged by Regional network Central Norway on 23 March. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 March and Monetary Policy Report 1/07.

(22.03.2007)

About 90 guests attended the annual address to the diplomatic corps at Norges Bank on Thursday 22 March. The event is organised in cooperation with the Ministry of Foreign Affairs. The address is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 March, Monetary Policy Report 1/07 and on previous speeches.

(19.03.2007)

Governor Svein Gjedrem gave a speech in Stavanger at a meeting hosted by Sparebank 1 SR-Bank on 19 March. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 15 March and Monetary Policy Report 1/07.

(16.03.2007)

Summaries of reports from Norges Bank’s regional network are now available.

(15.03.2007) The title of Norges Bank’s Inflation Report has been changed to Monetary Policy Report. The new title better reflects the purpose of the report. The report assesses the interest rate outlook and includes projections for developments in the Norwegian economy, analyses of selected themes and a summary of Norges Bank’s regional network. The Executive Board's assessment of the economic outlook and the monetary policy strategy are presented at the end of Section 1 in the report.

(15.03.2007)

Norges Bank’s Executive Board has decided to set the overnight lending rate 1 percentage point higher than the sight deposit rate. The overnight lending rate has no monetary policy function, and the decision implies no change in Norges Bank’s monetary policy.

(15.03.2007)

Norges Bank’s Executive Board decided today to raise its key policy rate by 0.25 percentage point to 4.00 per cent with effect from 16 March 2007.

Webcast of press conference (In Norwegian).

(14.03.2007) Invitation to Treasury bill auction is now available.

(01.03.2007)

Deputy Governor Jarle Bergo gave a speech at a Norwegian Capital Markets Day arranged by Oslo Stock Exchange in London on Thursday, 1 March. The speech is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 24 January, Inflation Report 3/06 and previous speeches.

(28.02.2007) In March, Norges Bank will purchase foreign exchange equivalent to NOK 550 million per day for the Government Pension Fund – Global.

(27.02.2007) A sharp rise in prices in international equity markets in 2006 pushed up returns on the portfolios under management by NBIM. Last year was the fourth consecutive year with a double digit percentage rise in equity prices and the return on the equity portfolios was approximately 17 per cent. A rise in international interest rates curbed returns on the fixed income portfolios to just below 2 per cent.

(26.02.2007) Invitation to government bond auctions is now available.

(15.02.2007) On Thursday 15 February, the Supervisory Council of Norges Bank held its annual meeting, at which the Bank's annual accounts were adopted. At 6 pm on the same day, Governor Svein Gjedrem delivered his annual address to the members of the Supervisory Council and specially invited guests. An English translation of the address is now available on our website and will be webcast live and made available on wap.norges-bank.no.

(15.02.2007)

Norges Bank's annual accounts for 2006 show a surplus of NOK 5.5 billion, compared with a surplus of NOK 21.3 billion in 2005. The decline is due primarily to exchange losses on the foreign exchange reserves as a result of the appreciation of the Norwegian krone (NOK). No transfer will be made to the Treasury from the Transfer Fund.

(07.02.2007) Invitation to Treasury bill auction is now available on our website.

(02.02.2007) Espen Klitzing (43) has been appointed Chief Financial Officer at Norges Bank Investment Management (NBIM). He will serve as deputy for Chief Executive Officer  Knut N. Kjær and will be responsible for the central management and analysis functions excluding investment activities.

(31.01.2007) In February, Norges Bank will purchase foreign exchange equivalent to NOK 490 million per day for the Government Pension Fund – Global.

(26.01.2007) Deputy Governor Jarle Bergo gave a speech at the Foreign Exchange Seminar of the Association of Norwegian Economists at Sanderstølen on 26 January. The speech does not contain new assessments of the economic situation or current interest rate setting.

(24.01.2007) Norges Bank’s Executive Board decided today to raise its key policy rate by 0.25 percentage point to 3.75 per cent with effect from 25 January 2007.

(22.01.2007) Invitation to government bond auctions is now available on our website.

(08.01.2007) Invitation to Treasury bill auction is now available on our website.

(02.01.2007)

Norges Bank and Statistics Norway have decided that the activities of Norges Bank’s Statistics Department will be transferred to Statistics Norway, with effect from 1 January 2007. Some of the statistical information previously published by Norges Bank will be published on Statistics Norway’s website: www.ssb.no