In The Financial Markets Report 2025 the Government announced an evaluation of the Regulation on Monetary Policy. Since then, a thorough process has been carried out, with broad and early public involvement.

“The Government has decided to keep the key sections of the Monetary Policy Regulation unchanged. The primary objective of monetary policy will still be low and stable inflation,” says Finance Minister Jens Stoltenberg.

A new regulation will now be formally adopted, but only technical adjustments have been made compared to the former regulation. The government’s decision implies continuity in the monetary policy framework.

The regulation still stipulates that the primary objective of monetary policy is low and stable inflation. Norges Bank shall steer towards an inflation target, but is granted flexibility to consider how fast the inflation target should be met. This allows monetary policy to contribute to high and stable production and employment while also counteracting the build-up of financial imbalances.  

“In my view the regulation effectively defines and limits the responsibility of monetary policy,” says the Minister of Finance.

Norges Bank has been given the opportunity to express its opinion pursuant to Section 1-4, first paragraph, of the Central Bank Act. According to the Statement on the Regulation on Monetary Policy, in the letter of 10 September 2026 from Norges Bank to the Ministry of Finance, “Norges Bank’s experiences with the current Regulation on Monetary Policy are positive. (...) The new regulation will not entail any changes to the conduct of monetary policy.”

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