Bank of Finland Bulletin 5 • 2025
Publication dates 17 September 2025 and 1 October 2025.
The Finnish versions were published on 12 and 17 September 2025.
Vol. 99
Six issues of the Bank of Finland Bulletin will be published in 2025.
Editor-in-Chief
Olli Rehn
Editorial Board
Iina Lario, Chairperson
Niko Herrala
Esa Jokivuolle
Helinä Laakkonen
Markku Lehmus
Kirsi Ripatti
Petri Uusitalo, Secretary
Juuso Vanhala
Articles
Prepared in the Monetary Policy and Research Department under the supervision of Markku Lehmus and Juuso Vanhala.
Authors
Jetro Anttonen
Eeva Kerola
Olli-Matti Laine
Markku Lehmus
Jaakko Nelimarkka
Sami Oinonen
Aleksi Paavola
Seija Parviainen
Lauri Vilmi
Charts and tables
Heli Honkaharju
Maiju Kupiainen
Anna Marin
Translation and editing
Bank of Finland Language Services,
Bank of Finland Communications
Subscriptions to the newsletter
www.bofbulletin.fi
The contents of the Bulletin may be freely quoted or reprinted, but acknowledgement is requested.
ISSN 1456-5870 (online)