At its meetings on 5 and 13 March 2024, the Committee discussed the economic outlook and the monetary policy stance. On 20 March, the Committee decided on the policy rate, on the basis of the deliberations and a recommendation from Norges Bank staff. The Bank’s monetary policy strategy describes the Committee’s interpretation of the monetary policy mandate and provides a framework for the Committee’s assessment of how monetary policy will respond to different shocks. At its meeting on 20 March, Norges Bank’s Monetary Policy and Financial Stability Committee decided to keep the policy rate unchanged at 4.5 percent. Based on the Committee’s current assessment of the outlook and balance of risks, the policy rate will likely be kept at that level for some time ahead.