Norges Bank issues the Norwegian krone and manages Norway’s monetary policy.
Norges Bank is Norway’s central bank and was established in 1816. It is responsible for promoting price stability, supporting economic stability, and contributing to a secure and efficient payment system. It also manages parts of Norway’s substantial financial assets on behalf of the government.
A major responsibility is managing the Government Pension Fund Global, commonly known as Norway’s oil fund, under a mandate from the Ministry of Finance. Norges Bank Investment Management carries out that investment-management role, while the central bank itself sets monetary policy.
The Norwegian krone is often abbreviated NOK in international financial markets. Norges Bank should not be confused with the Nordic Investment Bank, which is a multilateral financial institution owned by Nordic and Baltic countries rather than Norway’s central bank.