* The monthly purchase volumes are reported net of redemtions
** At amortized cost
*** Since June 2016, Eesti Pank has stopped buying bonds issued by Elering, but since June this year, the Finnish central bank has bought the bonds of Elering and... more
The Eesti Pank reserves allow the central bank to remain independent of the government and ensure that it has sufficient capital to cover any possible losses. More broadly, the reserves help ensure confidence in the monetary system of the euro area and underpin the stability of the Estonian... more
The Bank of Estonia PSPP holdings are available for securities lending. The counterparties eligible for this lending are trading counterparties who have relevant agreements (GMRA agreements) with the Bank of Estonia.
Estonia joined the euro area at the beginning of 2011. In the euro area, the Eurosystem is responsible for the implementation of the single monetary policy. The Eurosystem consists of national central banks (NCBs) in the euro area and the European Central Bank (ECB) in Frankfurt. As a Eurosystem... more
With inflation remaining low, expectations for it falling and the economy in the euro area staying weak, the Governing Council of the European Central Bank decided at its meeting in September 2019 to ease monetary policy with a varied package of measures. One of these measures was that monthly... more
The latest economic forecast from Eesti Pank expects the economy to grow by 3% this year, and by about 2% in the next two years. As demand for labour subsides in the cooling economy, wages are expected to rise more slowly from next year. The years of high inflation have also ended.