The Bank of Finland is the national monetary authority and central bank of Finland. At the same time, it is also a part of the Eurosystem, which is responsible for monetary policy and other central bank tasks in the euro area and administers use of the world’s second largest currency – the euro. The primary objective of the Eurosystem and the Bank of Finland alike is price stability, which means a moderate rise in consumer prices. The Bank of Finland has tasks relating both to Finland and to the Eurosystem. In addition to monetary policy, the Bank’s core tasks are financial stability and financial statistics, banking operations and currency supply.
- prepares and implements monetary policy in Finland
- oversees the stability of the financial system and produces statistics
- conducts research and economic policy analysis
- attends to the settlement of interbank payments and investment of its own financial assets
- maintains the stability and efficiency of payment systems and issues banknotes.