Bank of Finland articles on the economy
Bank of Finland Bulletin 3/2020 - Economic forecast for the Finnish economy
Published 9 Jun 2020
pdf, 654 kB
Bank of Finland Bulletin 2/2020 - Financial stability
Published 20 May 2020
pdf, 1.70 MB
The worst-case scenario in the corona spring did not materialise, but we will still need stamina for the long haul9 June 2020, Bank of Finland Bulletin 3/2020
Healthy public finances provide an irreplaceable shield when we hit hard times. It is important to focus the fiscal policy stimulus effectively and take forward structural reforms. Finland’s labour market, too, has a vital role to play as the economy enters the recovery phase.
Regulation has strengthened the financial system’s resilience5 May 2020, Bank of Finland Bulletin 2/2020
Financial institutions' solvency and liquidity positions have been strengthened since the global financial crisis. A well-functioning banking sector together with government relief measures will bolster the economy's outset for growth once the crisis subsides.
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The fastest stage of growth in the euro area looks to have passed, but momentum remains strong. Uncertainty is being fuelled by protectionism and Italy’s domestic economic policy.
Protectionist measures may, at worst, significantly dampen global economic growth. This effect could prove all the more substantial if confidence is weakened and investment is held back.
In the euro area, labour market participation among the working-age population has caught up with that of the United States. Yet a decline in the participation of especially young people remains a cause for concern in both regions.
There are more question marks over monetary policy normalisation than there are over traditional monetary tightening.
The ECB’s Expanded Asset Purchase Programme has recently raised TARGET2 balances, but the reason for the increase is now different than during the sovereign debt crisis.
In times of uncertainty, prudence is justified in the normalisation of monetary policy.
Concerns about a protracted period of low growth soon followed the recovery from the Great Recession. Recent strength in the euro area economy does not exclude the risk of secular stagnation.
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