ECB’s expanded asset purchase programme has supported growth in Finland
Haavio, Markus; Kilponen, Juha; Kortela, Tomi; Sariola, Mikko (27.01.2017)
JulkaisusarjaBank of Finland. Bulletin
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201701311084
The expanded asset purchase programme (EAPP) has had a significant positive impact on macroeconomic developments in Finland. The ECB’s decisions of December 2015 and March 2016 are forecast to boost Finland’s GDP by approximately 0.5%. The EAPP has also had a significant impact on price developments: without the purchase programme, inflation in 2016 would have been around 0.3 of a percentage point slower. The programme has also substantially increased both corporate and household credit demand.