The challenge for policymakers now is to finish the job: to ensure that deleveraging takes place fast, that it takes place well, and that it happens everywhere where it is needed. Monetary policy intervention Monetary policy itself has a role to play in this process.
The changes brought by the end of this special trading arrangement had a big impact also on the Bank of Finland. An entire department had handled payments related to Finnish-Soviet trade. But already in the 1980s there were economists at the Bank who were following the Soviet economy and trying to analyse the reforms or changes introduced in many areas.