Forecast for the Finnish Economy, June 2026
Publishing informations
Forecast for the Finnish economy, June 2026
Bank of Finland Bulletin 3 • 2026
Publication dates 12 June 2026 and in late June 2026.
The Finnish version was published on 12 June 2026.
Vol. 100
Six issues of the Bank of Finland Bulletin will be published in 2026.
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
Prepared in the Monetary Policy and Research Department under the direction ofJuuso Vanhala, Head of Forecasting.
Authors
Joni Heikkinen
Pirkka Jalasjoki
Jarkko Kivistö
Petri Mäki-Fränti
Jaakko Nelimarkka
Juho Peltonen
Harri Pönkä
Mikko Sariola
Juuso Vanhala
Hannu Viertola
Charts and tables
Maiju Kupiainen
Anna Marin
Juhani Törrönen
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)
Articles attached to the publication
- Simply short: Finland’s economy at a turning point
- Forecast: Finnish economy on verge of stronger growth
- Forecast tables 2025–2028 (June 2026)
Financial Stability Assessment, May 2026
Publishing informations
Bank of Finland Bulletin: Financial Stability Assessment, May 2026
Bank of Finland Bulletin 2 • 2026
Publication dates 20 May 2026 and early June 2026.
The Finnish version was published on 20 May 2026.
Vol. 100
Six issues of the Bank of Finland Bulletin will be published in 2026.
Editor-in-Chief
Marja Nykänen
Editorial Board
Iina Lario, Chair
Niko Herrala
Esa Jokivuolle
Helinä Laakkonen
Markku Lehmus
Kirsi Ripatti
Petri Uusitalo, Secretary
Juuso Vanhala
Steering group
Helinä Laakkonen
Katja Taipalus
Jukka Topi
Authors
Katja Ahoniemi
Hanna Freystätter
Johanna Honkanen
Maija Järvenpää
Karlo Kauko
Kimmo Koskinen
Samu Kärkkäinen
Helinä Laakkonen
Ilari Määttä
Juho Nyholm
Ville Pikkarainen
Hanna Putkuri
Tero Rautasuo
Tommi Salenius
Juhana Siljander
Annika Sippola
Heli Snellman
Jukka Topi
Jukka Vauhkonen
Ville Voutilainen
Charts and tables
Nina Björklund
Marita Kuoppala
Maiju Kupiainen
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)
Articles attached to the publication
- A strong banking sector is an important asset in a volatile world
Euro area economy, April 2026
Publishing informations
Bank of Finland Bulletin 1 • 2026
Publication date 7 May 2026.
The Finnish version was published on 14 April 2026.
Vol. 100
Six issues of the Bank of Finland Bulletin will be published in 2026.
Editor-in-Chief
Olli Rehn
Editorial Board
Iina Lario, Chair
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.
Authors
Pasi Ikonen
Markku Lehmus
Meri Obstbaum
Sami Oinonen
Seija Parviainen
Juho Pitkäranta
Harri Pönkä
Lauri Vilmi
Charts and tables
Heli Honkaharju
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)
Articles attached to the publication
- Why are euro area households saving more than usual?
- Productivity and energy costs are weaknesses in euro area competitiveness
Forecast for the Finnish Economy, December 2025
Publishing informations
Forecast for the Finnish economy, December 2025
Bank of Finland Bulletin 6 • 2025
Publication dates 19 December 2025 and beginning of January 2026.
The Finnish version was published on 19 December 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
Prepared in the Monetary Policy and Research Department under the direction ofJuuso Vanhala, Head of Forecasting.
Authors
Pirkka Jalasjoki
Jarkko Kivistö
Annika Lindblad
Petri Mäki-Fränti
Jaakko Nelimarkka
Juho Peltonen
Harri Pönkä
Mikko Sariola
Juuso Vanhala
Hannu Viertola
Charts and tables
Maiju Kupiainen
Anna Marin
Juhani Törrönen
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)
Articles attached to the publication
- Inflation and higher interest rates brought financial distress to a proportion of households
- Finland’s economy heading out of recession
- Alternative scenario: Finland’s economic woes continue
- Assessment of public finances: From targets to actions
- Finland’s labour market weaker than that of the euro area
- How it’s done – The models and analysis behind the Bank of Finland’s forecasts for the Finnish economy
- Finland’s economy heading out of recession
- Forecast tables 2025–2028 (December 2025)
Monetary Policy and Interim Forecast for the Finnish Economy, September 2025
Publishing informations
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)
Articles attached to the publication
- Will higher defence spending boost euro area growth?
- Variable rate corporate loans strengthen transmission of monetary policy
- Wage indicators under scrutiny: What can they reveal about services inflation in the euro area?
- Finland’s economy on a faltering return to growth
- Euro area’s economy weathers tariff turmoil
Forecast for the Finnish Economy, June 2025
Publishing informations
Forecast for the Finnish economy, June 2025
Bank of Finland Bulletin 4 • 2025
Publication dates 10 June 2025 and end of June 2025.
The Finnish version was published on 10 June 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
Prepared in the Monetary Policy and Research Department under the direction of Juuso Vanhala, Head of Forecasting.
Authors
Pirkka Jalasjoki
Petteri Juvonen
Jarkko Kivistö
Petri Mäki-Fränti
Juho Peltonen
Harri Pönkä
Mikko Sariola
Aino Silvo
Juuso Vanhala
Hannu Viertola
Charts and tables
Maiju Kupiainen
Anna Marin
Juhani Törrönen
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)
Articles attached to the publication
- New obstacles to Finland’s economic recovery
- Trade war escalation poses significant risk for Finnish economy
- Labour market flows run deeper: Participation has raised both employment and unemployment
- How would higher defence spending affect Finland’s economic growth?
- Trade war will slow the growth in Finland’s economy
- Forecast tables for 2024–2027 (June 2025)
Financial Stability Assessment, May 2025
Publishing informations
Bank of Finland Bulletin: Financial Stability Assessment, May 2025
Bank of Finland Bulletin 3 • 2025
Publication dates 21 May 2025 and the beginning of June 2025.
The Finnish version was published on 21 May 2025.
Vol. 99
Six issues of the Bank of Finland Bulletin will be published in 2025.
Editor-in-Chief
Marja Nykänen
Editorial Board
Jenni Hellström, Chairperson
Niko Herrala
Esa Jokivuolle
Helinä Laakkonen
Markku Lehmus
Kirsi Ripatti
Petri Uusitalo, Secretary
Juuso Vanhala
Steering group
Hanna Freystätter
Helinä Laakkonen
Katja Taipalus
Authors
Katja Ahoniemi
Johanna Honkanen
Aliisa Koivisto
Samu Kärkkäinen
Helinä Laakkonen
Hanna Putkuri
Rasmus Rannikko
Tommi Salenius
Jukka Vauhkonen
Charts and tables
Nina Björklund
Maiju Kupiainen
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)
Articles attached to the publication
- Global upheaval – Financial stability at risk from power politics
- Investor confidence in Finland as an investment destination has remained strong
- Trade war weakens export outlook for Finnish companies
- Mortgage borrowers have proved resilient against the interest rate risk of their loans
- Biggest threats to financial stability are from outside Finland
Money and payments, May 2025
Publishing informations
Bank of Finland Bulletin 2 • 2025
Publication date 13 June 2025.
The Finnish version was published on 8 May 2025.Vol.
Six issues of the Bank of Finland Bulletin will be published in 2025.
Editor-in-Chief
Tuomas Välimäki
Editorial Board
Iina Lario, Chairperson
Niko Herrala
Esa Jokivuolle
Helinä Laakkonen
Markku Lehmus
Kirsi Ripatti
Petri Uusitalo, Secretary
Juuso Vanhala
Articles
Prepared in the Payment Systems Department under the coordination of Principal Adviser Kirsi Ripatti.
Authors
Maria Huhtaniska-Montiel
Miki Kuusinen
Johanna Schreck
Atte Valtanen
Charts and tables
Maiju Kupiainen
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)
Articles attached to the publication
- What should be done to improve the autonomy of European retail payments?
- Role of cooperation highlighted amid escalating global tensions
International Economy and Interim Forecast for the Finnish Economy, March 2025
Publishing informations
Bank of Finland Bulletin 1 • 2025
Publication date 26 March 2025.
The Finnish version was published on 11 March 2025.
Vol. 99
Six issues of the Bank of Finland Bulletin will be published in 2025.
Editor-in-Chief
Olli Rehn
Editorial Board
Jenni Hellström, 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
Juhana Hukkinen
Pasi Ikonen
Petteri Juvonen
Sanna Kurronen
Markku Lehmus
Petri Mäki-Fränti
Jaakko Nelimarkka
Harri Pönkä
Risto Rönkkö
Hannu Viertola
Lauri Vilmi
Charts and tables
Heli Honkaharju
Anna Marin
Juhani Törrönen
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)
Articles attached to the publication
- Is the euro area investing enough?
- How will the trade war hit the economy?
- Grey clouds hanging over Finnish economy’s recovery
Forecast for the Finnish Economy, December 2024
Publishing informations
Forecast for the Finnish economy, December 2024
Bank of Finland Bulletin 5 • 2024
Publication dates 17 December 2024 and January 2025.
The Finnish version was published on 17 December 2024.
Vol. 98
Five issues of the Bank of Finland Bulletin will be published in 2024.
Editor-in-Chief
Olli Rehn
Editorial Board
Jenni Hellström, Chairperson
Niko Herrala
Esa Jokivuolle
Helinä Laakkonen
Markku Lehmus
Kirsi Ripatti
Petri Uusitalo, Secretary
Juuso Vanhala
Prepared in the Monetary Policy and Research Department under the direction of
Juuso Vanhala, Head of Forecasting.
Authors
Pirkka Jalasjoki
Petteri Juvonen
Jarkko Kivistö
Petri Mäki-Fränti
Harri Pönkä
Mikko Sariola
Aino Silvo
Juuso Vanhala
Hannu Viertola
Charts and tables
Jonna Elonen-Kulmala
Maiju Kupiainen
Juhani Törrönen
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)
Articles attached to the publication
- Finland’s economy will pick up gradually
- Import tariffs and trade policy uncertainty will dampen economic growth
- Sustained efforts needed to turn Finland’s public debt ratio around
- IT services are a key part of Finland’s service exports
- Finnish economy returning slowly to growth
- Forecast tables for 2024–2027 (December 2024)
Monetary Policy Review, October 2024
Publishing informations
Bank of Finland Bulletin 4 • 2024
The contents of the Bulletin may be freely quoted or reprinted, but acknowledgement is requested.
ISSN 1456-5870 (online)
Publication date 1 October 2024.
The Finnish version was published on 1 October 2024.
Vol. 98
Five issues of the Bank of Finland Bulletin will be published in 2024.
Editor-in-Chief
Olli Rehn
Editorial Board
Jenni Hellström, 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.
Authors
Jetro Anttonen
Heli Honkaharju
Eeva Kerola
Olli-Matti Laine
Markku Lehmus
Jaakko Nelimarkka
Aleksi Paavola
Lauri Vilmi
Translation and editing
Bank of Finland Language Services,
Bank of Finland Communications
Subscriptions to the newsletter
www.bofbulletin.fi
Articles attached to the publication
- Impact of geopolitical surprises on euro area inflation varies case by case
- Will the euro area’s robust employment growth continue?
- Impact of ECB’s policy rate changes on corporate loan rates varies strongly across countries
- Inflation down but euro area’s manufacturing still struggling with high energy costs
Forecast for the Finnish Economy, June 2024
Publishing informations
Forecast for the Finnish Economy, June 2024
Bank of Finland Bulletin 3 • 2024
Publication dates 11 June and 5 July 2024.
The Finnish version was published on 11 June 2024.
Vol. 98
Five issues of the Bank of Finland Bulletin will be published in 2024.
Editor-in-Chief
Olli Rehn
Editorial Board
Jenni Hellström, Chairperson
Niko Herrala
Esa Jokivuolle
Helinä Laakkonen
Markku Lehmus
Kirsi Ripatti
Petri Uusitalo, Secretary
Juuso Vanhala
Prepared in the Monetary Policy and Research Department under the direction of
Juuso Vanhala, acting Head of Forecasting.
Authors
Essi Eerola
Pirkka Jalasjoki
Annika Lindblad
Petri Mäki-Fränti
Harri Pönkä
Mikko Sariola
Aino Silvo
Heli Simola
Juuso Vanhala
Hannu Viertola
Charts and tables
Jonna Elonen-Kulmala
Maiju Kupiainen
Juhan Törrönen
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)
Bank of Finland
PO Box 160
FI-00101 HELSINKI
Phone: +358 (0) 9 1831
www.bofbulletin.fi
www.bof.fi/en
Articles attached to the publication
- Finland’s economy is gradually moving out of recession
- Finnish economy would recover more rapidly if exports and consumption pick up
- Finland struggling to defend its market share in goods exports
- The collapse of trade with Russia has had a limited effect on Finnish manufacturing
- Inflation down and recovery supported by interest rate cut
- Finland’s economy moving out of recession
- Forecast tables for 2024–2026 (June 2024)