Norges Bank
Norway's oil fund avoids FX after recent losses
The Bank of Norway said it would not buy foreign exchange for its sovereign wealth fund, the Government Pension Fund, in December. The announcement follows news that Nkr104.4 billion ($18.9 billion) was knocked off the value of the fund, a store of the…
Uncertainty clouds outlook for rates in Norway
Svein Gjedrem, the governor of the Bank of Norway, said on Wednesday that the central bank's interest rate decisions may diverge from the forecasted rate path because of the heightened uncertainty caused by the global financial turmoil.
Norway's oil fund makes a loss in third quarter
The market value of Norway's sovereign wealth fund fell in the third quarter, hit by the global financial turmoil and appreciation of the krone. However, the value of the fund passed Nkr2 trillion ($369 billion) for the first time in October.
New governance head at Norwegian oil fund
Anne Kvam, a legal director at paper producer Norske Skog, will replace Henrik Syse, as head of corporate governance at Norges Bank Investment Management, the Central Bank of Norway's sovereign wealth fund.
Norges Bank raises benchmark rate
In a widely predicted move, Norway's central bank raised its benchmark interest rate for the eleventh time in two years, moving the deposit rate up by a quarter point to 4.5%.
Sweden's Rosenberg on interest rates
External price pressure and expectations of improvements in productivity were the reasons why Irma Rosenberg, a first deputy governor at Sweden's Riksbank, voted for rates to stay on hold at the monetary policy meeting at the start of the month, she said…
Norwegian oil fund up 1.5%
Norway's Government Pension Fund - Global produced a total return on investment of 1.5% during the first quarter of 2007, which the Bank of Norway said was 0.09 percentage points above the benchmark set by the government.
Norway's Gjedrem on the conduct of monetary policy
In the speech 'The conduct of monetary policy' given on 10 May Svein Gjedrem of Norges Bank said the fall in prices for imported goods and services and the increase in export prices have provided the Norwegian economy with an appreciable income boost.
Norges Bank Economic Bulletin, April 2007
The latest edition of Norges Bank's Economic Bulletin for April 2007 includes the article 'Interest rate projections in theory and practice'.
Bergo on stabilization & commodity wealth funds
In the speech 'Best practice in structuring stabilization and commodity wealth funds' given on 8 May Jarle Bergo of Norges Bank said the Government Pension Fund and our fiscal guideline have helped us to avoid the common pitfalls in resource rich…
Norges Bank - Annual Report 2006
According to the Norges Bank's Annual Report 2006, inflation has been low and stable and remained fairly close to, but somewhat below 2.5%.
Norway's Gjedrem on the economic outlook
In the speech 'The economic outlook - address to diplomats' given on 22 March Svein Gjedrem of Norges Bank said the bank would continue to tighten monetary policy and that interest rates would rise in the short term.
Norges Bank Monetary Policy Report, March 2007
Norges Bank published its First Monetary Policy Report (previously called the Inflation Report) for March 2007 on Thursday 15 March. In spite of strong growth in output and employment, inflation has not picked up so far.
Norges Bank Economic Bulletin, December 2006
The latest edition of Norges Bank's Economic Bulletin for December 2006 includes the article 'A retrospective on the introduction of prices in the Norwegian payment system'. The article provides an account of the transition from free services to direct…
Norway's Gjedrem on economic perspectives
In the speech 'Economic perspectives' given on 15 February Svein Gjedrem of Norges Bank said that the bank's key interest rate will be gradually increased to 5 per cent.
Klitzing joins Norges Bank Investment Management
Espen Klitzing has been appointed Chief Financial Officer at Norges Bank Investment Management, the bank said Friday 2 February.
Norway's Bergo on interest rate projections
In the speech 'Interest rate projections in theory and practice' given on 26 January Jarle Bergo of the Norges Bank said the benefit of commitment hinges on the credibility of the central bank's actions and communication.
Norges Bank raises rates to 3.50%
The Norwegian central bank said Wednesday 13 December it has decided to raise the sight deposit rate to 3.50 pct from 3.25 pct, effective from Thursday.
Norges Bank Financial Stability Report No.2, 2006
The central bank of Norway, Norges Bank, published its twice yearly Financial Stability Report for 2/2006 on 5 December. Overall, the outlook for financial stability is considered to be satisfactory, according to the report.
Norway's pension fund snubs
The Norges Bank-managed state pension investment fund has reportedly blacklisted several large international corporations, including the world's largest retailer Wal-mart, for "alleged human rights and labour abuses."
Norwegian Pension Fund biggest in Europe
Norway's central bank announced on 21 November the Government Pension Fund, now valued at 207 billion Nkr ($32.5 billion) and managed by the Norges Bank, is now the largest pension fund in Europe.
Norges Bank Economic Bulletin, October 2006
The latest edition of Norges Bank's Economic Bulletin for October 2006 includes the article "Forecasting in Norges Bank." In the article the authors analyse the current economic situation and the driving forces that will influence the economy in the…
Bergo on Norwegian economy & financial stability
In the speech 'The Norwegian economy and financial stability' given on 7 November Jarle Bergo of the Norges Bank said the Norwegian financial system appears sound, well managed and competitive, and shorter-term vulnerabilities appear low overall.
Norges Bank Inflation Report, November 2006
Norges Bank published its Third Inflation Report for November 2006 on Wednesday 1 November. Even after several years of robust growth in the domestic and global economy, underlying inflation remains low.