Interest Rate in Finland
Finland - Interest RateThe economy contracted again in Q2, although at a much slower pace than in most European economies, as the Covid-19 pandemic took its toll. Households increased precautionary savings and cut their spending, while international trade slumped in Q2, due to restrictions and disrupted supply chains. Turning to Q3, available data hints that a recovery is underway: The indicator for economic activity continued to improve in July, with its best reading since January, while sales continued to expand in annual terms in the same month, hinting at strengthening domestic demand. However, in August the unemployment rate rose to its highest level since May 2018, while consumer confidence slumped, which could dampen spending ahead. On the political front, in early September the government included an additional EUR 60 million in its fifth supplementary budget proposal for 2020 to help with the costs of the pandemic.
Finland - Interest Rate Data
|Policy Interest Rate (%)||0.05||0.0||0.0||0.0||0.0|
5 years of economic forecasts for more than 30 economic indicators.
Finland Interest Rate Chart
Source: European Central Bank.
|Bond Yield||0.03||3.70 %||Dec 30|
|Exchange Rate||8.78||-0.38 %||Jan 01|
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October 15, 2020
Economic activity decreased 3.3% year-on-year in working-day adjusted terms in August, down from July’s 2.7% drop.
October 14, 2020
Consumer prices remained flat in September over the previous month, after the mild 0.02% increase recorded in August.
October 13, 2020
The current account recorded a EUR 0.3 billion surplus in August, matching the surplus recorded in August last year, and swinging from the EUR 0.1 billion deficit recorded in the prior month.
September 15, 2020
Economic activity decreased 2.8% year-on-year in working-day adjusted terms in July.
September 14, 2020
Consumer prices ticked up a mild 0.02% in August over the previous month, following the 0.36% increase recorded in July.