Pentti Hakkarainen: Banking Union in the Nordic context Keynote address by Mr Pentti Hakkarainen, Deputy Governor of the Bank of Finland, at the Nordic Opportunities/SEB Seminar, London, 3 September 2013.
Excluding these more volatile items, inflation decreased from 1.1% in May to 1.0% in June. As the economy continues to grow and slack is absorbed, supporting rising wages, underlying inflation is expected to pick up. Recent wage agreements in several countries point to a continuation of these favourable dynamics.