Norges Bank is the central bank of Norway and has the exclusive right to issue banknotes and coins. The Bank provides loans for - and receives deposits from - Norwegian commercial and savings banks and plays an important role in the payment system by, for instance, executing settlements between banks.
Norges Bank is responsible for the execution of monetary and exchange rate policy. The guidelines for the monetary policy were established by Royal Decree of 29 March 2001. Monetary policy shall be oriented towards achieving low and stable inflation over time. The Bank analyses trends in the Norwegian economy, paying particular attention to financial markets, and advises the Government on matters relating to economic policy. It also compiles bank statistics and statistics relating to the balance of payments.
Norges Bank has a staff of more than 650 (2004). The Head Office is located in Oslo. The Bank also has branches in New York and London. The Royal Norwegian Mint in Kongsberg is a wholly-owned subsidiary. In addition the Bank has ownership interests in NOKAS, the company into which the former regional branches has been organised.
