On Friday 13 March, Norges Bank published its decision to reduce the policy rate by 0.50 percentage point to 1.00 percent. The decision was made after an extraordinary meeting of Norges Bank’s Monetary Policy and Financial Stability Committee on Thursday afternoon. As the policy rate decision has been brought forward, the Committee’s planned meeting on 18 March is cancelled. The planned press conference on 19 March is also cancelled.

It has also been decided that the announcement of the next planned monetary policy decision on 7 May 2020 will be followed by a press conference where the Governor will elaborate on the assessments made by Norges Bank.

At the same time, Norges Bank wishes to emphasise that the Committee can convene at short notice and decide on new measures if so required.