Monetary Policy Report 3/08

The Monetary Policy Report is based on information in the period to 23 October 2008. The monetary policy strategy in Section 1 was approved by the Executive Board on 29 October 2008. The Report is published three times a year, in March, June and October/November. The Report assesses the interest rate outlook and includes projections for developments in the Norwegian economy, analyses of selected themes and a summary of Norges Bank’s regional network reports. At its meeting on 3 September, the Executive Board discussed relevant themes for the Report. At the Executive Board meeting on 15 October, the economic outlook was discussed. On the basis of this discussion and a recommendation from Norges Bank’s management, the Executive Board adopted a monetary policy strategy for the period to the publication of the next Report on 25 March 2009 at the meeting held on 29 October. The Executive Board’s summary of the economic outlook and the monetary policy strategy are presented in Section 1. In the period to the next Report, the Executive Board’s monetary policy meetings will be held on 17 December, 4 February and 25 March