Bank of Finland articles on the economy
Bank of Finland Bulletin 4/2018 - Monetary policy and the global economy
Published 18 Oct 2018
pdf, 5.59 MB
Bank of Finland Bulletin 3/2018 - Economic forecast for the Finnish economy
Published 6 Jul 2018
pdf, 3.16 MB
Monetary policy normalisation to proceed carefully and with measured pace4 Oct 2018, Bank of Finland Bulletin 4/2018
In times of uncertainty, prudence is justified in the normalisation of monetary policy.
Monetary policy remains accommodative, net asset purchases about to end6 July 2018, Bank of Finland Bulletin 3/2018
Finland’s public finances have gathered strength; the general government deficit has shrunk and the ratio of public debt to GDP has begun to contract. Yet determined efforts are still required to address the challenges to fiscal sustainability in the long term.
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The shift in China’s model of growth and fall in the price of oil will weigh on the global economy. The Bank of Finland forecasts growth of around 3%.
Before the current recession, Finland was closing the gap on Europe’s wealthiest small economies but is now falling ever further behind.
Increasing market uncertainty over the condition of banks in early 2016 was not due solely to concerns about global economic growth but also above all reflected concerns about banks’ non-performing loans and declining profitability amid low interest rates and subdued growth.
In recent years, the growth of international trade has slowed to the level of the GDP growth rate. Is the most hectic phase of globalisation already history?
In many countries, a rapid rise in debt has led to financial sector problems and a pronounced slowdown in economic growth. In China, too, sustainable management of the public finances would require a slowdown in the pace of debt accumulation.
Japan’s economy has so far been growing sluggishly, but the deflationary trend has been successfully cut and structural reforms taken forward.
The Bank of Finland forecasts a 3% contraction in Russian GDP in 2016. This is due to the export price shocks Russia has had to face.
The cover and transparency of China’s GDP statistics need to be improved. According to the statistics, the deceleration in growth has been very evenly spread, which has increased suspicions over the reliability of the data.
The BRICS countries, which have been supporting global growth, are now facing headwinds. Within the group, only the outlook for India's economy remains positive.
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