Home 
ContactDeutsch
SitemapFrançais
GlossaryItaliano
Legal issues
PDFPDFPrintPrint
Home / Information about / Monetary policy / Reports on the monetary policy of earlier years
Monetary policy report 1998
1. Announcement of an unchanged monetary policy
2. Consideration given to economic activity and the exchange rate
3. Strong fluctuations in sight deposits
4. Expansion of the monetary base
5. Weak growth of the money stock M3
1. Announcement of an unchanged monetary policy
At the end of 1997 the National Bank had announced that it would continue implementing a generous monetary policy. It expected short-term interest rates to fluctuate on a low level of less than 2%. The supply of money was to be adjusted to the increase in demand, with the National Bank expecting real economic growth at the rate of 2% and an inflation rate of 1%.