Bank of Finland

A forward-looking tracker of negotiated wages in the euro area

Retrieved on: 
Saturday, February 10, 2024
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Key Points: 

    Global Fintech Fest 2023 - AFAQ and BUNA Systems Have Improved Payments in GCC: Khaled Al Basias of Saudi Central Bank

    Retrieved on: 
    Friday, September 8, 2023
    Ministry of Finance, JPMorgan Chase, FCC, GCC, RBI, Economy, Reserve Bank of India, Bank of Japan, National Payments Corporation of India, GFF, Information technology, Digital, Federal Department of Economic Affairs, Education and Research, Former, Ministry of Electronics and Information Technology, PCI, Bank of Finland, Ministry, BCG, DEA, Digital asset, Reserve Bank, International Financial Services Centre, NPCI, RTGS, Knowledge, Bank, Payment, Payments Council, Electronics, Fintech, MD

    MUMBAI, India, Sept. 8, 2023 /PRNewswire/ -- Speaking at Global Fintech Fest 2023, H.E.

    Key Points: 
    • MUMBAI, India, Sept. 8, 2023 /PRNewswire/ -- Speaking at Global Fintech Fest 2023, H.E.
    • Khaled Al Basias, Director Financial Sector Development, Saudi Central Bank highlighted that the AFAQ and BUNA systems have helped improve payments in the GCC region.
    • AFAQ system was created in 2020 to link all the GCC countries' RTGS payments and central banks for foreign exchange transactions.
    • Highlights of Global Fintech Fest 2023:
      3 days | 13 tracks | 800+ Speakers | 15+ Thought Leadership Reports | 81 Academic Papers | 50+ Workshops | 125+ Countries | 250+ Sessions | 250+ Investors | 500+ exhibitors | 150K Sq.

    Christine Lagarde: Interview with Helsingin Sanomat

    Retrieved on: 
    Monday, February 27, 2023
    Natural gas, Climate change, Civil service commission, Frankfurt, Decision-making, Communication, Nokia, Policy, Council, COVID, Solidarity, Uncertainty, Hawk, Risk, Central bank, Bank of Finland, Element, Bank, Time, Reading, ECB, Environment, Lifting, Government, Lagarde, Acceleration, Government Council for Foreign Affairs and Defence, Eurosystem, Reproduction, Human, Personal ordinariate, IMF, European Commission, GDP, Education, European Central Bank, Clothing, Tourism, Creative industries, Tire manufacturing, Marketing, Cryptocurrency, Management, EU

    25 February 2023

    Key Points: 
    • 25 February 2023
      President Christine Lagarde, the European Commission said last week that the euro area is set to narrowly avoid a technical recession.
    • Another big question is how the lifting of COVID restrictions in China will affect its economic recovery and the global economy.
    • What do you think are the main reasons for the better-than-anticipated economic developments in the euro area?
    • European countries have responded to President Putin’s unlawful and unjustified war by working better together.
    • We will no longer buy Russian oil, and gas imports from Russia have gone down radically.
    • Governments, such as Austria and Germany, Estonia and Finland, have been cooperating on securing energy supplies.
    • Headline inflation is still unacceptably high, but it is likely to decline because energy costs are falling.
    • You have repeatedly said the ECB must stay on course when it comes to tightening monetary policy.
    • So now, from your perspective, should the Governing Council also stand ready for a 50 basis point tightening in May?
    • So it is not impossible or out of the question that there would be another 50 basis point hike after March?
    • Our decisions will be determined by the incoming data and driven by our goal of returning inflation to 2%.
    • Some academics have said the issue is that the ECB should have started raising interest rates earlier than July 2022.
    • The beauty of the Eurosystem is that everybody comes to the table with conviction and with an open mind.
    • So what would be your advice to increase labour productivity in Finland in order to secure long-term economic growth?

    A closer look at consumers' inflation expectations – evidence from the ECB’s Consumer Expectations Survey

    Retrieved on: 
    Friday, November 11, 2022
    HICP, Journal of Business & Economic Statistics, Business, Topa, Federal Reserve Bank of New York, ECB, Kinga Stanislawska, Knowledge, ANSI T1.413 Issue 2, Population, Reserve Bank of Australia, Subjective, Household, Blog, Federal Reserve Bank, Movement, Journal of Monetary Economics, Monetary economics, Consumer confidence index, Journal, Internet, CES, Economic statistics, Woman, Bank of Finland, Economics Bulletin, Bank, COVID-19, Online shopping, Cryptocurrency, Bookkeeping, Blow molding, Milk, Risk management, Animal, Uncertainty

    = A closer look at consumers inflation expectations evidence from the ECBs Consumer Expectations Survey =

    Key Points: 
    • = A closer look at consumers inflation expectations evidence from the ECBs Consumer Expectations Survey =
      Published as part of the ECB Economic Bulletin, Issue 7/2022.
    • In this box, we analyse developments in consumers inflation expectations [1] using data from the ECBs Consumer Expectations Survey (CES), which was launched in 2020.
    • [2] We look at changes in the entire distribution of inflation expectations, focusing on both mean and median inflation expectations, as the two measures can differ owing to skew in survey responses.
    • Expectations for three years ahead measure more medium-term inflation expectations and, as such, better capture the potential risks of the de-anchoring of inflation expectations from a central banks inflation target.
    • [4] More medium-term inflation expectations remained broadly unchanged until March 2022, when median inflation expectations for three years ahead increased to 3% following the Russian invasion of Ukraine.
    • Consumers mean and median inflation expectations and HICP inflation
      (percentages; annual percentage changes)

      Sources: ECBs Consumer Expectations Survey and Eurostat.

    • Although perceptions of actual inflation and short-term inflation expectations have risen, the term structure of consumers inflation expectations has remained strongly downward sloping.
    • By combining information on inflation expectations at different horizons, a term structure of consumers inflation expectations can be constructed.
    • The responsiveness of inflation expectations to inflation perceptions has increased slightly, but it remains noticeably lower for medium-term inflation expectations.
    • [8] Inflation perceptions in the regressions of short-term and medium-term inflation expectations
      (coefficient on revisions to inflation perceptions)

      Source: ECBs Consumer Expectations Survey.

    Erkki Liikanen Joins Systemic Risk Council

    Retrieved on: 
    Monday, August 19, 2019
    Finance, Banking, Professional services, Public policy, Government, White House, Federal Government, Public policy, Other Policy Issues, Economy, Money, Finance, Erkki Liikanen, Financial regulation, Systemic risk, Erkki, Liikanen, Bank of Finland, Systemic Risk Council, Paul Tucker, Liikanen report

    public policy new Today the Systemic Risk Council (SRC) announced that Erkki Liikanen, former Governor of the Bank of Finland, has become a member.

    Key Points: 
    • public policy new Today the Systemic Risk Council (SRC) announced that Erkki Liikanen, former Governor of the Bank of Finland, has become a member.
    • Welcoming the appointment, SRC Chair Paul Tucker said, I am absolutely delighted that Erkki Liikanen is joining the Systemic Risk Council.
    • Erkki Liikanen was Governor of the Bank of Finland and a member of the Governing Council of the European Central Bank from 2004 to 2018.
    • The Systemic Risk Council (SRC or Council) is a private sector, non-partisan body of former government officials and financial and legal experts committed to addressing regulatory and structural issues relating to global systemic risk, with a particular focus on the United States and Europe.