Bank of Finland forecasts slow economic growth

According to the Bank of Finland, growth prospects for the advanced economies have remained subdued. Growth is being hampered by the slow improvement in productivity, reflecting possible delays in the introduction of new technologies, as well as the fading dynamics of the operating environment for non-financial corporations. Bank of Finland also stated that the outcome of the EU referendum in the United Kingdom added to uncertainty on financial markets in summer 2016. The inflation outlook remains subdued in the main economic regions. The current year will still be weighed by the decline in the price of oil. After this, improvements in economic prospects and the ongoing accommodative stance of monetary policy will gradually begin to boost inflation. (Finland Times)



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