Monetary Policy Meeting 2 November 2005

Developments in the nominal and real exchange rate over the past year probably reflect an improvement in the terms of trade and an increase in oil cash flows into the Norwegian

2) Projections from the Ministry of Finance on estimated spending of petroleum revenues in governmnent budget for the selected year, published in national budget previous autumn,

• Underlying, real growth in central government spending is projected at 0.4 per cent from the 2002 accounts to the final budget for 2003, 0.3 percentage point higher than

Three-month money market rates for Norway’s trading partners.. Policy rates in selected

Policy rate and estimated forward rates 1). 2) ECB deposit facility rate... Money market rates for Norway’s

The proposed budget, including the proposed budget for operating expenses at operating companies in the Government Pension Fund Global’s real estate management, is to be submitted

The Governor presented a review of the main economic developments since the previous Executive Board meeting, with particular emphasis on developments in money, foreign exchange

Figure 5.15: The effect of a one percent increase in government expenditure on GDP, Norway Initially the effect of a government spending shock on the volatility index is positive,