Finnish government nominates Bank of Finland chief for new term

HELSINKI (Reuters) - Finland's government said on Thursday it has nominated Bank of Finland Governor Olli Rehn for a second seven-year term, paving the way for a final decision by the Nordic country's president.

Governor since 2018, Rehn was considered a favourite among the eight applicants for the top job and will begin his second term on July 12. Bank of Finland governors can serve a maximum of two terms.

"The President of the Republic will decide on the appointment on Friday 14 March," the government said in a statement.

The Finnish central bank chief also sits on the ECB's governing council, which decides monetary policy for the euro zone.

Rehn, 62, spent a decade at the European Commission and was economic and monetary affairs commissioner during the euro zone debt crisis.

Last year Rehn unsuccessfully ran for president of Finland.

(Reporting by Essi Lehto and Stine Jacobsen, editing by Terje Solsvik)