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Energy will dominate euro area’s economic outlook for a long time yet
(28.10.2022)
Bank of Finland. Bulletin 3/2022
Bank of Finland. Bulletin 3/2022
The euro area has been drawn into an energy crisis that could have a long-term impact on the area’s economy. The escalating price of energy is increasing euro area import prices, weakening the current account and further ...
Accessible summary : Energy crisis pushing up general price level – Adverse impact on economic growth still to come
(29.09.2022)
Bank of Finland. Bulletin 3/2022
Bank of Finland. Bulletin 3/2022
Energy prices have risen substantially within the euro area. Natural gas and electricity, in particular, have become more expensive as a consequence of Russia’s war in Ukraine. The effects of the energy crisis on the economy ...
Growth continues, outlook more moderate
(18.10.2018)
Bank of Finland. Bulletin 4/2018
Bank of Finland. Bulletin 4/2018
The outlook for global economic growth has moderated from the spring. Growth in international trade has decelerated. Confidence in the economic outlook remains fairly strong, but trade tensions, in particular, are a downside ...
Secular stagnation : A false alarm in the euro area?
(04.10.2018)
Bank of Finland. Bulletin 4/2018
Bank of Finland. Bulletin 4/2018
Worries about secular stagnation, a prolonged period of low growth, arose after the Great Recession. In the euro area, such fears may appear misguided given sound growth, tightening labour markets and expectations of gradual ...
Editorial : Monetary policy normalisation to proceed carefully and with measured pace
(03.10.2018)
Bank of Finland. Bulletin 4/2018
Bank of Finland. Bulletin 4/2018
The euro area's growth rate is set to moderate to approximately 2%. A reduction in unemployment has created suitable conditions for accelerated wage growth and a return in the path of inflation to the policy objective of ...
A fragile recovery from the pandemic crisis has begun
(09.11.2020)
Bank of Finland. Bulletin 5/2020
Bank of Finland. Bulletin 5/2020
The global economic crisis caused by the coronavirus pandemic intensified in March 2020. The health crisis and the lockdown measures necessary to contain the epidemic led to an exceptionally sudden and sharp decline in ...
Outlook deteriorated rapidly : can this be turned around?
(03.04.2019)
Bank of Finland. Bulletin 1/2019
Bank of Finland. Bulletin 1/2019
Global economic growth is expected to remain somewhat slower in 2019 than the previous year. Growth is expected to abate gradually in the United States amid the fading effects of the fiscal stimulus. China’s economic growth ...
Euro area productivity growth could slow further in the event of a downturn
(03.10.2019)
Bank of Finland. Bulletin 4/2019
Bank of Finland. Bulletin 4/2019
The euro area productivity slowdown in the early 2000s can mainly be attributed to weakening innovation. However, since 2008 productivity growth has slowed due to a crisis-induced drop in technology adoption. This implies ...
Expansionary economic policy boosts growth
(27.04.2018)
Bank of Finland. Bulletin 1/2018
Bank of Finland. Bulletin 1/2018
The growth outlook for the global economy is strong. Growth is supported by a synchronized expansion in several key economic regions, accommodative monetary policy, and fiscal stimulus in the United States. China continues ...