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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File size and format – pdf, 1.70 MB
The financial system is stronger today than during earlier crises, but banks will inevitably see a rise in their loan losses. Government and the financial sector must continue their exceptional measures to support businesses and households.
The coronavirus pandemic will further weaken the short-term profitability of banks. Government and central bank policy measures are mitigating the rise of funding costs and are bolstering lending capacity.
Regulatory reform has made banks more resilient than they were during the previous crisis. A robust lending capacity is now needed to help Finnish firms through the coronavirus crisis.
The coronavirus pandemic has the potential to aggravate long-standing vulnerabilities in the Nordic housing market. Housing market disturbances can increase credit risk for banks and interfere with their access to funding.
The poor outlook for the economy is weighing on banks, households and firms. Banks have accumulated buffers for a rainy day that should be deployed now as the coronavirus buffets the economy.
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