The monetary policy strategy describes the Committee’s interpretation of the mandate for monetary policy and provides a framework for the Committee’s assessments of the appropriate monetary policy reaction to different shocks. A summary of the strategy is provided here and published in full on Norges Bank’s web pages. Norges Bank’s Monetary Policy and Financial Stability Committee decided to keep the policy rate unchanged at 4.5% at its meeting on 18 December. Based on the Committee’s current assessment of the outlook, the policy rate will most likely be reduced in March 2025.