Norges Bank Press Conference is one of the bank's most important events, closely monitored by economists and analysts around the world. The conference is held by the Chairman of the Bank's Executive Board not after every meeting of the Bank's Monetary Policy Committee, but only after half of them (which some analysts regard as a disadvantage). Also, the Bank can hold unscheduled conferences in the case of special circumstances. Such meetings can have the greatest impact on the country's economy and on the national currency quotes.
Usually, at the conference, the Chairman announces Norges Bank's decision on the policy rate and explains the reasons that influenced the decision. He also reads out a statement, which provides an overview of the country's financial system and a report on the sustainability of the Norwegian banking sector. This is followed by a short answer session.
The recording of each conference is published on the official website of the Bank and is available to everyone.
Norges Bank's press conferences are usually expected by economists and analysts around the world. The behavior of the Norwegian krone largely depends on the regulator's monetary policy and interest rate decisions, which are made on the basis of the information provided. Depending on provided estimates, the press conference can cause a short-term volatility in the national currency quotes.