Finland’s economic growth will be slower during the next three years. Growth has also slowed in the euro area and elsewhere around the world. However, there are still possibilities for growth in the Finnish economy.

Short-lived volatility in consumer prices make it harder to monitor price pressures within the economy. Measures of core inflation describe price developments that are not driven by temporary factors.

The economic outlook for the euro area has deteriorated rapidly. The impact of Brexit on Europe as a whole is hard to predict. Another factor overshadowing the global economy is the trade dispute between the USA and China.

A review of the ECB’s monetary policy strategy is due in light of the latest economic research and the changed operating environment.

Finnish growth will continue, but at a slower pace than in recent years. There is no returning to the growth rate that preceded the financial crisis.

The euro area’s monetary policy stance is conducive to economic growth and employment in Finland.

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.

In times of uncertainty, prudence is justified in the normalisation of monetary policy.