We have constructed a financial conditions index for Norway (FCIN). The FCIN offers a daily update on Norwegian financial conditions based on data from January 2003 on bank lending rates, bond spreads, the foreign exchange market, the stock market and the housing market. The index is constructed...

Simple monetary policy principles known as Taylor rules define how a central bank should modify its interest rate policy instrument in a methodical manner in response to developments in inflation and other aspects of macroeconomic activity (Friedman, 2020). They provide a helpful framework for...

This paper examines the usefulness of shadow rates to measure the monetary policy stance by comparing them to the official policy rates and those implied by three types of Taylor rules in both inflation targeting countries (the UK, Canada, Australia and New Zealand) and others that have only...