Bank of Finland. Bulletin

Monetary policy and economic outlook 1

Financial stability in Finland 12

Housing finance in Finland
by Risto Herrala and Pertti Pylkkönen 21

Towards electronic payments
by Hanna Jyrkönen and Heli Paunonen 29

Items:
First supplementary budget for 2003 Commemorative bi-metallic coin in honour of the Ice Hockey World Championships in Finland
Publication of the Bank of FInland 35

Eurosystem monetary policy instruments 36

Recent Bank of Finland research publications 39

Finland in brief 45

Visiting Scholars Programme 47

Balance sheet of the Bank of Finland 48

Charts C1