Norges Bank
Tight labor markets amplify wage response to policy shocks
A Norges Bank working paper reveals that the transmission of monetary policy to wages is highly nonlinear and asymmetric, with tight labor markets amplifying wage increases from expansionary shocks while downward rigidity limits declines from contractionary shocks.
Focus
Policy rate held at 4.25 percent
Norges Bank's Monetary Policy and Financial Stability Committee decided to keep the policy rate unchanged at 4.25 percent at its June 17 meeting.
Wage growth revised up as recruitment difficulties ease
Norges Bank's Regional Network contacts report easing recruitment difficulties and revised up wage growth estimates to 4.5 percent for 2026 and 4.1 percent for 2027.
Latest
Payment system faces complex threats, Norges Bank urges action
Norges Bank has published its Financial Infrastructure Report 2026, warning that Norway's payment system faces a more severe and complex threat landscape.
Norway: Monetary policy curbs inflation via exchange rate
A Norges Bank working paper finds that contractionary monetary policy shocks lead to a gradual and persistent decline in inflation in Norway.
Uniform flood insurance subsidizes high-risk properties
A Norges Bank working paper quantifies cross-subsidies in Norway's uniformly priced natural perils insurance scheme.
More Topics
Natural disasters cause hidden household costs despite insurance
A new Norges Bank study finds natural disasters inflict substantial indirect economic costs on households, even when direct damages are fully insured.
Transatlantic divide in labor shares driven by technology and institutions
A Norges Bank working paper documents a transatlantic divide in labor income share dynamics between Europe and the United States from 1960 to 2023.
Bache details research models for policy decisions
Norges Bank Governor Ida Wolden Bache presented on the diverse role of research-based models in monetary policy decision-making.
Norway's private credit market small but warrants monitoring
A Norges Bank staff memo finds Norway's private credit market remains small but is growing, particularly from foreign funds.
Norwegian banks robust despite global uncertainty
Norges Bank's bi-annual Financial Stability Report assesses the Norwegian financial system as robust, with banks well-equipped to manage market stress and higher losses.
Bache: Norwegian economy strong, inflation elevated, rates raised
Norges Bank Governor Ida Wolden Bache noted strong growth and high employment in the Norwegian economy.