Norges Bank
Norway oil fund sets sights on more real estate
The Government Pension Fund Global saw 16% return in 2013, driven by equities gaining 26.3% while fixed income didn't budge; real estate is a growth area
Norges Bank review calls on MPC to relinquish control of wealth fund
Annual report published today raises ‘serious concern' over monetary policy committee's capacity to oversee $830 billion wealth fund with most members having other full-time jobs
Norwegian governor backs SWF rotation into higher-yielding equities and real estate
Øystein Olsen says it is ‘natural' for the country's pension fund to invest in different types of real assets; talks up the possibility of an above-average market return
Riksbank unveils organisational shake-up
Three new units streamlining asset management and payment operations will come into being on March 1; also announces transfer of Skr3.3 billion to Treasury
‘Normal' Norway has no need of forward guidance, says monetary policy chief
Head of Norges Bank's monetary policy division says interest rate forecasts are all the forward guidance his country needs, as the crisis did not hit Norway to the same extent
Norges Bank issues ‘secret' advice on prudential regulation
Norwegian finance ministry will publish central bank recommendations on countercyclical buffers only once it has decided whether or not to follow the advice; bank holds interest rates at 1.5%
Design of Norwegian banknotes charts new waters
Norges Bank reveals upcoming banknote series will share a maritime theme, reflecting the country's 83,000km coastline; notes will not feature human portraiture
Norges Bank deputy discusses institutional underpinnings of central bank activities
Jan Qvigstad highlights the importance of institutions in facilitating payments in an era when money lacks intrinsic value; chides Argentinian government for meddling with statistics
Norges Bank governor heralds countercyclical capital buffer
Øystein Olsen says 'primary purpose' of prudential tool is increasing banks' resilience as systemic risk increases; buffer will vary between zero and 2.5% of risk-weighted assets
Norges Bank handed advisory role on macro-prudential policy
Norwegian central bank will advise the ministry of finance on whether it should impose a countercyclical capital buffer and, if so, what size it should be
Scandinavians open macro-pru toolbox to cool overheated housing markets
Rising property prices, increasing household debt and towering banking sectors are pushing Norway, Sweden, and Denmark to consider unconventional measures to pre-empt a crash
Norwegian paper explores financial stability trade-off
Working paper identifies trade-off between increasing rates to mitigate financial imbalances and lowering rates to reduce the risk of bank insolvency
Norges Bank deputy backs Bayesian econometrics in policy-making
Jan Qvigstad highlights how Bayesian econometrics have been used to develop two of the central bank’s ’most important’ forecasting tools
Norges Bank economists examine motivations behind bank regulation
Staff memo sets out reasons why banking is ‘inherently unstable’ activity; says safety nets can create the need for further regulation
Norges bank governor justifies taking ‘a few years’ to increase inflation
Øystein Olsen says it is appropriate for central bank to tolerate below-target inflation; does not want to risk the build-up of financial imbalances
Norges Bank paper seeks to solve ‘exchange rate puzzles’
Working paper looks to research into ‘market microstructure’ to explain rapid evolution of foreign exchange markets
European rates: UK and Norway on hold as Denmark and Poland cut
Bank of England marks time ahead of Mark Carney’s arrival and Norges Bank keeps policy steady, while Denmark and Poland take action
Norges Bank governor backs plans for counter-cyclical capital buffer
Øystein Olsen gives support to proposals by the Norwegian government to introduce a counter-cyclical capital buffer; will be set by ministry of finance with advice from the Norges Bank
Interest rate forecasts ‘constrain’ central banks
Norwegian paper finds that Norges Bank and Reserve Bank of New Zealand are ‘reluctant to deviate’ from interest rate paths they have previously published
Norges Bank governor outlines Norwegian model for stability
Øystein Olsen tells Harvard audience of Norway's fiscal rule and inflation-targeting - but warns the system has yet to be seriously tested
Norwegian authorities chase benchmark rate reform
Financial Supervisory Authority of Norway proposes new framework for Norwegian Interbank Offered Rate-setting process; central bank looks to push envelope further
Norwegian paper finds implicit intra-day interest rate in UK money market
Research says that – in the absence of contractually binding repayment time – there is an implicit cost of delaying payments in the UK’s overnight money market
Norway’s SWF sees large returns after ‘major strategic changes’
Annual report for 2012 reveals pension fund saw second-best performance since its creation; investments diversified away from Europe and into emerging markets
Norges Bank ‘takes note’ of report criticising its communication
Norges Bank governor Øystein Olsen unintentionally misled markets over Norges Bank rate cut last year, according to a report funded by Ministry of Finance