Gjedrem on policy response to the economic outlook

In a speech on 'The monetary policy response to the economic outlook' Svein Gjedrem of Norges Bank said the last interest rate reduction reflected expectations of low inflation as a result of the strong krone and low international price inflation with global economic developments still sluggish.

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Address by Mr. Svein Gjedrem, Governor of Norges Bank, Hamar, 21 May 2003.

The monetary policy response to the

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