Monetary policy update May 2020
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Forecasts of the Norwegian economy are normally only prepared for the monetary policy meetings in connection with the Monetary Policy Report. In the light of the coronavirus outbreak and the extraordinary situation in the Norwegian economy, updated forecasts were nevertheless presented to the Committee ahead of the monetary policy meeting in May. At its meetings on 24 and 30 April, the Committee discussed the outlook and the monetary policy stance. On the basis of the discussions and recommendation from Norges Bank staff, the Committee made its decision on the policy rate on 6 May 2020. The Committee’s assessment of the economic outlook and monetary policy is presented in “Monetary policy assessment” on page 4.