- Real household incomes and sales by companies in the domestic market have increased rapidly, but goods exports declined further
- The fall in corporate profits over several years indicates that the economy will have to adjust through faster productivity growth or slower wage growth... more
The Estonian state should not rush to borrow money that is exceptionally cheap because of central bank policies and to increase the national debt, because the Estonian economy is not currently in need of any additional stimulus, says Ardo Hansson, Governor of Eesti Pank.
He does however... more
At the autumn school of the Institute of Government and Politics of the University of Tartu, held on Saturday in Kääriku, the Governor of Eesti Pank Ardo Hansson commented on monetary policy, saying that it cannot affect economic growth over the long term, as the only way to ensure growth is... more
Responding to questions in the Riigikogu on Monday about the asset purchase programme of the euro-area central banks, Governor of Eesti Pank Ardo Hansson said that the asset purchases will make borrowing cheaper for Estonian companies and households too.
Mr Hansson explained to the... more
Honourable President of the Riigikogu, Distinguished Members of the Riigikogu
I am here today to give you a summary of the year 2014 at Eesti Pank. I will speak on the economy in the euro area and on monetary policy, and I will... more
Speaking on Tuesday to the finance committee of the Riigikogu about the asset purchase programme of the central banks of the euro area, Governor of Eesti Pank Ardo Hansson said that economic history shows that central banks are not able to create long-term economic growth through large-scale... more
Open market operations
Open market operations serve to steer interest rates and manage the liquidity situation in the money market, and to signal the stance of monetary policy. Generally, open market positions are carried out by NCBs on the initiative of the ECB and usually on the money... more