‘Normal' Norway has no need of forward guidance, says monetary policy chief
The Norwegian central bank, Norges Bank, has not needed to use "extraordinary measures" such as forward guidance that have been used elsewhere in advanced economies, according to Birger Vikøren, director of the monetary policy division.
In a lecture delivered yesterday to a foreign exchange conference in Oslo, Vikøren said influencing expectations make monetary policy "more efficient", quoting Michael Woodford that "very little else matters" other than expectations.
Norges Bank produces regular
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