Base rate is set to 1,5 per cent

The Ministry of Finance has set the base rate to 1,5 per cent as of 1 July 2012 until the end of December 2012. The base rate has been at 2,0 per cent since 1 January 2012.

The base rate, calculated twice a year, is determined on the basis of the average for the 12-month market interest rate quoted over the three months prior to the rate being set. The Ministry of Finance sets the base rate to the nearest one quarter of a percentage point (Act on certain reference rates 996/1998).

Inquiries: Mr. Heikki Solttila, Financial Counsellor, tel. 358 2955 30113.