Bank of Estonia's profit smaller than last year

ESTONIA - President of the Bank of Estonia Vahur Kraft has said that last year the central bank earned an extraordinarily high profit on its foreign currency reserves, but this year would be much more modest in that respect.

Kraft told a press conference on Monday that above all due to a fall in short and medium-term interests the yield of the Bank of Estonian foreign currency reserve was 23 percent higher than forecast and it was an extraordinary year in terms of reserve management.

In all, the

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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