The Board of the Bank of Finland has appointed Juha Kilponen Ph.D.(Econ.) as Head of the Monetary Policy and Research department for a fixed term of five years, until 13 November 2023. Kilponen succeeds Tuomas Välimäki D.Sc.(Econ.), who was appointed by the Parliamentary Supervisory Council as member of the Board of the Bank of Finland on 12 July 2018.                                                               

Juha Kilponen has served since 2014 as Head of the Forecasting Division in the Monetary Policy and Research department and, before that, in expert, research director and advisory positions in the Research unit of the Bank of Finland. While in the service of the Bank, he has also worked as a senior adviser to the temporary European Financial Stability Facility and as a senior expert at the European Central Bank.

Kilponen holds the degree of Doctor of Economics. He graduated from the European University Institute in Florence in 1999, the title of his thesis being The Political Economy of Monetary Policy and Wage Bargaining - Theory and Econometric Evidence. Kilponen is one of the developers of the Bank of Finland forecasting model, Aino, and is a well-known and recognised expert in economic modelling and forecasting.

Kilponen has published extensively papers in peer-reviewed scientific journals, monographs and other articles in books and research publications. He is docent in the Department of Economics at the University of Turku and has held the position of lecturer in macroeconomics in the Finnish Doctoral Programme in Economics.

The Monetary Policy and Research department supports the participation of the Bank of Finland in determining the single monetary policy of the euro area. It assesses the state of the Finnish economy and prepares the Bank’s positions on domestic economic policy on the basis of this assessment. The department is responsible for the Bank of Finland’s research activity, where the focus is on researching the interaction between the macro economy and the financial markets and the stability of both. The department also comprises the Bank of Finland Institute for Economies in Transition (BOFIT), which monitors and analyses current developments in Russia and China, and conducts long-term academic research.

For further information, please contact Olli Rehn, Governor of the Bank of Finland, tel. +358 9 183 2001.