One key area of responsibility of Norges Bank today is to set the interest rate on overnight sight deposits such that the inﬂation rate is in line with the current monetary policy target value (2.5 percent target may change in the future). The objective of the liquidity policy of the bank is to ensure that the desired interest rate is implemented in the money market. Today Norges Bank uses the interest rate on sight deposits as its key interest rate for monetary policy. The Executive Board of Norges Bank makes decisions about the sight deposit rate in their interest rate meetings which are held about every six weeks.
Key Features and Coverage on RIMES
For this data source, RIMES hosts 4 reference rates, including:
- Overnight lending rate
- Key policy rate
- Reserve rate
- Norwegian Overnight Weighted Averages
Some of the data items available include Rate (series value), Domain code, and Description.