Policy rate kept at 4.5 percent
At the March monetary policy meeting, we kept the policy rate unchanged at 4.5 percent. There is uncertainty about future economic developments, but the Committee’s current assessment of the outlook implies that the policy rate will most likely be reduced in the course of 2025.
News and events
Monetary policy
Monetary policy shall maintain monetary stability by keeping inflation low and stable
Notes and coins
Current notes and coins
See the current banknotes and coins in Norway
Exchanging withdrawn banknotes and coins
Withdrawn Norwegian notes and coins can be exchanged at one of our offices or sent in via post. We do not exchange valid banknotes and coins.
Exchange rates
Financial stability
Norges Bank shall contribute to a robust and efficient financial system
Investment management
Norges Bank manages the portfolios of the Government Pension Fund Global and the Bank’s own foreign exchange reserves
Oil fund
Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global, also known as the Oil Fund.
Foreign exchange reserves
The foreign exchange reserves are the Bank's contingency funds in international currencies and are to be available for use in foreign exchange market transactions as part of the conduct of monetary policy or with a view to promoting financial stability and to meet Norges Bank's international commitments.
