Bank of Finland. Bulletin

The Bank of Finland's macroeconomic forecast 2003-2005 1

Is Finland's current account surplus here to stay?
by Tapio Korhonen and Pentti Forsman 17

Competition and regulation in European retail payment systems
by Kari Kemppainen 25

Item:
Commemorative silver coin in honour of Finnish Field Marshal C.G.E. Mannerheim 29

Eurosystem monetary policy instruments 30

Recent Bank of Finland research publications 33

Finland in brief 39

Visiting Scholars Programme 41

Balance sheet of the Bank of Finland 42

Charts C1