Norwegian commission calls for reform of Norges Bank
Mandate, board and legislation should all be changed, says former governor Svein Gjedrem
An independent commission’s report, published on June 23, calls for Norway’s central bank to be given a monetary policy committee and an independent board, and for it to lose its links to the country’s largest sovereign wealth fund.
The bank should be given an explicit mandate covering monetary policy and financial stability, and the legislation governing it, which was last amended in 1985, should also be reformed, the commission says.
Management of the sovereign wealth fund created by Norway
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