Norway: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Norway

February 2, 2012

Preview Citation

Format: Chicago

Norway: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Norway, (USA: International Monetary Fund, 2012) accessed November 21, 2024

Summary

Norway’s near-term macroeconomic priority is to reduce risks arising from high-household debt by tightening macroprudential standards for mortgage lending while undertaking tax reforms to gradually reduce incentives for excessive leverage. Creating a stronger institutional framework for acroprudential policy would also assist risk mitigation in the future. With the output gap closing, fiscal tightening is needed over the medium term in the central scenario to rebuild precautionary buffers and ensure that fiscal guidelines are met on average over the cycle.

Subject: Banking, Financial institutions, Financial sector policy and analysis, Housing prices, Inflation, Loans, Macroprudential policy, Mortgages, Prices

Keywords: CR, GDP, Global, Holding, Housing prices, Inflation, ISCR, Liability positions vis, Loans, Macroprudential policy, Mainland GDP, Mortgage interest payment, Mortgages, Rate, Statistics Norway, Vis nonresident

Publication Details

Pages:

72
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/025
Stock No:

1NOREA2012001
ISBN:

9781463940379
ISSN:

1934-7685

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