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Executive Board Meeting 20 April 2005

Executive Board Meeting 20 April 2005. Economic developments. Global and regional growth - figures from the IMF. Source: IMF. Global and regional growth - figures from the IMF. Source: IMF. Growth forecast from Consensus Forecasts. 2005. 2006. Source: Consensus Forecasts.

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Executive Board Meeting 20 April 2005

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  1. Executive Board Meeting20 April 2005

  2. Economic developments

  3. Global and regional growth - figures from the IMF Source: IMF

  4. Global and regional growth - figures from the IMF Source: IMF

  5. Growth forecast from Consensus Forecasts 2005 2006 Source: Consensus Forecasts

  6. Developments in 10-year government bond yields US Norway Germany Source: EcoWin

  7. Developments on the Oslo Stock Exchange and international stock exchangesDaily figures. 3 January 2005 = 100. 1 January – 19 April 2005 Source: EcoWin

  8. Development in credit spreadsPercentage points. Daily figures EMBI+ Sources: EcoWin and Norges Bank

  9. Development in credit spreadsPercentage points. Daily figures. 1 April - 19 April 2005 EMBI+ Source: EcoWin and Norges Bank

  10. Interest rate expectations 18 April 2005 UK Norway Euro area US Sources: Norges Bank and Reuters

  11. Interest rate expectations Norway Norway 16 March 18 April Sources: Norges Bank and Reuters

  12. Interest rate increases in this business cycle 1)Estimated as a weighted average of 10 countries, where the weightings take account of the countries with a fixed exchange rate against USD.On 31 December 2003 this interest rate was 2.16 per cent. Sources: Reuters, Bloomberg and Norges Bank

  13. Exchange rate movements I-44 in 2005 Monetary policy meeting and Inflation Report Source: Norges Bank

  14. Daily percentage change and historical volatility (one month) for EURNOK Daily percentage change Volatility Source: EcoWin and Norges Bank

  15. Historical volatility for EURSEK, EURNOK and EURGBP Source: Reuters

  16. Manufacturing output indexVolume. Index. 3-month moving average Capital goods Consumer goods Intermediate goods Source: Statistics Norway

  17. C2 for households by mortgage loans and other loans12-month growth. Per cent Mortgage loans C2 households Other loans Source: Norges Bank

  18. Credit to mainland enterprises12-month growth. Per cent Domestic credit Total credit Credit from foreign sources Source: Norges Bank

  19. Price index for non-residential commercial propertyPrice per square metre. Growth on same half year previous year. Per cent Source: Statistics Norway

  20. House prices from the Norwegian Association of Real Estate Agents1)12-month rise. Monthly figures. Per cent OBOS NEF 1) OBOS prices: Break in series from Jan 04 Source: OBOS and Associations of Norwegian Real Estate Agents (NEF, EFF)

  21. Housing starts (last 12 months)In thousands Sources: Statistics Norway

  22. Goods consumption index Sources: Statistics Norway and Norges Bank

  23. Unemployment in some occupationsSeasonally adjusted. Index January 2004=100 Nursing and health care Total Administrative and humanistic work Clerical/commercial work Source: Aetat Directorate of Labour

  24. CPI-ATETotal and broken down by imported and domestically produced goods and services1).Historical price inflation and projections IR 1/05 (broken line)12-month rise. Per cent Domestically produced goods and services (0.7) CPI-ATE Imported consumer goods (0.3)) 1) Norges Bank's estimates. Sources: Statistics Norway and Norges Bank

  25. Projections for the CPI-ATE and the output gapInflation Report 1/05. Per cent CPI-ATE Output gap Sources: Statistics Norway and Norges Bank

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