Our strategy

The Bank of Finland’s strategy refers to the choices that will guide our actions in the long term as well as our everyday work. The strategy sets out the Bank’s role, its aims and the values and principles that underlie its work.

Securing stability using high-quality data and research

The Bank of Finland’s strategy is centred on its function as Finland’s national central bank and member of the Eurosystem. We maintain price stability and promote financial stability. We also ensure the effectiveness and security of the payment system, take care of clearing for interbank payments and maintain the cash supply. We support sustainable growth and high employment in Finland and the EU. The Bank’s impact and influence are based on its research activities, which are of a high standard internationally.

Our tasks are laid down in the Act on the Bank of Finland and in the EU Treaties.

To make sure we can carry out our tasks as well as possible in a changing world, we have set out our vision of the kind of central bank and Eurosystem member that we wish to be. The good of Finland’s citizens is at the core of this vision. The Bank’s vision statement is as follows:

The Bank of Finland is an influential and respected central bank that maintains price and financial stability in all circumstances with the aim of promoting citizens’ wellbeing.

To make sure we are an influential and respected central bank, we create added value through expertise, insightful solutions and cooperation that builds trust. We base our statements and decisions on knowledge, research and high-quality analysis. We also participate in public debate, engage with our stakeholders and take part in constructive dialogue in Finland and the Eurosystem.

Ensuring we maintain price and financial stability in all circumstances requires that we provide advanced and reliable central bank services for the changing needs of Finnish society. We ensure operational continuity by preparing for changes, disruptions and crises. We develop our expertise and working practices on a long-term basis and by anticipating future needs.

Our aim, stated in the vision, of promoting citizens’ wellbeing obligates us to act responsibly and in accordance with the principles of sustainable development. We carry out our activities effectively and efficiently, maintaining predictable profit distribution to the State without jeopardising the Bank’s capital adequacy. We also promote the general public’s knowledge about the economy, the Bank of Finland and the Eurosystem by providing clear and understandable information.

To carry out our tasks and achieve our vision, five themes were selected in which we wish to succeed and move forward. The Bank of Finland’s strategic priorities for 2024–2026 are as follows:

1. Analysing inflation dynamics and bringing high inflation down to its target level

Preparing monetary policy when inflation is high will require new information. We will deepen our understanding of the euro area’s inflation dynamics and the effects of these changes on price stability and monetary policy transmission.

2. Anticipating financial crises and strengthening bank resolution processes

Our aim is to strengthen the Bank of Finland’s operational readiness to deal with any financial market disruptions or crises occurring at a Finnish, Nordic or EU level. We will bolster the European framework for managing and resolving crises, especially for dealing with systemic financial crises.

3. Furthering the resilience of and alternatives for European retail payments

We want to see greater resilience in retail payments and a reduction in the dependence on operators that are outside the euro area. The Bank of Finland will focus strongly on preparatory work for a digital euro and on ensuring that an instant payment service based on European standards is introduced in Finland. Work will continue on supplementing the national contingency preparations for payment and settlement systems.

4. Promoting sustainable economic policy in Finland and the EU

Our aim is to ensure that Finland’s level of competitiveness is high and its economic growth is sustainable. Finland’s membership of the EU and its participation in Economic and Monetary Union will support the wellbeing of its citizens as much as possible. The Bank of Finland’s analysis and expertise will support the advancement of sustainable economic policies. The European Central Bank’s (ECB) climate strategy and the Bank of Finland’s work to promote the green transition will provide effective support for managing the risks related to climate change and to biodiversity loss.

5. Seizing the opportunities of the data economy at the Bank of Finland and the Financial Supervisory Authority

The aim of the Bank of Finland and the Financial Supervisory Authority is to foster the utilisation of data, information and knowledge in the work of their experts and in developing their operations.

We are putting the strategy into effect in our everyday work. Our strategic choices are supported by the shared values that guide our everyday activities. The Bank of Finland’s values are as follows:

We learn continuously and from one another; we value each person’s expertise; we work together as equals; and we assume responsibility for fostering stability and a sustainable economy.