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        <pubDate>Thu, 07 Sep 2023 11:00:00 +0300</pubDate>
        <title>Back to the old normal? Monetary policy implementation in a landscape of rising interest rates and a shrinking Eurosystem balance sheet</title>
        <link>https://www.bofbulletin.fi/en/2023/3/back-to-the-old-normal-monetary-policy-implementation-in-a-landscape-of-rising-interest-rates-and-a-shrinking-eurosystem-balance-sheet/</link>
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        <category>Monetary policy</category>
        
        <description><![CDATA[With monetary policy normalisation proceeding, the ECB has begun a review of how it will implement monetary policy in the future.]]></description>
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        <et:author>
          <et:firstName>Juha</et:firstName>
          <et:lastName>Niemelä</et:lastName>
          <et:title></et:title>
          <et:url>https://www.bofbulletin.fi/en/author/juha-niemela/</et:url>
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        <et:author>
          <et:firstName>Tuomas</et:firstName>
          <et:lastName>Välimäki</et:lastName>
          <et:title>Member of the Board</et:title>
          <et:url>https://www.bofbulletin.fi/en/author/tuomas-valimaki/</et:url>
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      <item>
        <pubDate>Mon, 31 May 2021 15:35:00 +0300</pubDate>
        <title>Future of payments at hand</title>
        <link>https://www.bofbulletin.fi/en/2021/2/future-of-payments-at-hand/</link>
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        <category>Money and payments</category>
        
        <category>Digital euro</category>
        
        <description><![CDATA[The central bank is responsible for the reliability of payment systems and must be able to respond swiftly to developing payment forms. At the same time, access to cash must be ensured. In the final analysis, a flexible range of services benefits everyone.]]></description>
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        <et:author>
          <et:firstName>Tuomas</et:firstName>
          <et:lastName>Välimäki</et:lastName>
          <et:title>Member of the Board</et:title>
          <et:url>https://www.bofbulletin.fi/en/author/tuomas-valimaki/</et:url>
        </et:author>
        
        <et:author>
          <et:firstName>Päivi</et:firstName>
          <et:lastName>Heikkinen</et:lastName>
          <et:title>Head of Department</et:title>
          <et:url>https://www.bofbulletin.fi/en/author/paivi-heikkinen/</et:url>
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      <item>
        <pubDate>Fri, 11 Sep 2020 14:30:07 +0300</pubDate>
        <title>Recent economic crises have modified the Bank of Finland's market operations</title>
        <link>https://www.bofbulletin.fi/en/2020/4/recent-economic-crises-have-modified-the-bank-of-finland-s-market-operations/</link>
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        <category>Monetary policy</category>
        
        <description><![CDATA[In recent years central banks have eased monetary policy by conducting large-scale asset purchases and offering banks credit on affordable terms. These measures promote price stability and facilitate economic growth and employment.]]></description>
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        <et:author>
          <et:firstName>Juha</et:firstName>
          <et:lastName>Niemelä</et:lastName>
          <et:title></et:title>
          <et:url>https://www.bofbulletin.fi/en/author/juha-niemela/</et:url>
        </et:author>
        
        <et:author>
          <et:firstName>Tuomas</et:firstName>
          <et:lastName>Välimäki</et:lastName>
          <et:title>Member of the Board</et:title>
          <et:url>https://www.bofbulletin.fi/en/author/tuomas-valimaki/</et:url>
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      <item>
        <pubDate>Mon, 18 May 2015 13:00:00 +0300</pubDate>
        <title>The financial crisis changed the instruments but not the objectives of monetary policy</title>
        <link>https://www.bofbulletin.fi/en/2015/1/the-financial-crisis-changed-the-instruments-but-not-the-objectives-of-monetary-policy/</link>
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        <category>Monetary policy</category>
        
        <description><![CDATA[Central banks have acted forcefully to provide monetary accommodation. With little room for manoeuvre for standard interest rate policy, unconventional measures have been adopted.]]></description>
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        <et:author>
          <et:firstName>Tuomas</et:firstName>
          <et:lastName>Välimäki</et:lastName>
          <et:title>Member of the Board</et:title>
          <et:url>https://www.bofbulletin.fi/en/author/tuomas-valimaki/</et:url>
        </et:author>
        
        <et:author>
          <et:firstName>Jarmo</et:firstName>
          <et:lastName>Kontulainen</et:lastName>
          <et:title></et:title>
          <et:url>https://www.bofbulletin.fi/en/author/jarmo-kontulainen/</et:url>
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