Let me first tell you about the Bank of Finland and its activities. Then I will move on to the Finnish economic outlook. Bank of Finland and the Eurosystem The Bank of Finland has an interesting history. We got a central bank already before our country’s independence. The Bank of Finland is the fourth oldest central bank in the world.
However, because of the low nominal interest rate environment, debt servicing cost as a percentage of disposable income remained unchanged at a relatively low level of 6½ per cent. The monetary and credit aggregates have also been increasing at rates consistent with strong domestic demand.