An expert group has presented a report calling for an increase in the number of members in Norges Bank's interest rate committee, from the current five to between seven and nine. This recommendation aims to enhance the quality of debate and diverse perspectives within the committee, which oversees monetary policy. The report was shared by Norges Bank Watch, an initiative focused on scrutinizing the central bank’s monetary policies and communication.

The rationale behind this proposal stems from the current composition of the committee, where three internal members hold a majority, allowing them to potentially make decisions without the support of external members. The expert group argues that this situation compromises the depth and breadth of the discussions, which are crucial for effective monetary policy-making. By expanding the committee, they believe varying viewpoints can be better integrated into the decision-making process.

The report was authored by Tore Vamraak, chief economist of Sparebanken Norge, and economics professor Tommy Sveen. Their insights draw attention to the importance of a balanced and representative committee to foster high-quality deliberations, which could ultimately influence the central bank's monetary policy and its communication with the public and markets.