Adviser to the government
The government needs to keep abreast of the monetary policy pursued by the European Central Bank. It is DNB’s duty to inform the government on this subject. Also, DNB advises the government on the attunement between monetary policy and other policy areas including budget policy. It should be emphasised, however, that DNB’s role in co-determining the euro area’s monetary policy is quite independent from political influences.
The President of DNB regularly meets with the Minister of Finance to discuss the economy. These discussions do not restrict themselves to monetary and budget policy issues, but also cover such topics as the soundness of the financial system and the reliability of the payment system.
Consulting
DNB is represented in the Social and Economic Council (more familiarly known as the SER). This is an advisory body in which employers and employees are represented as well. In addition, President Nout Wellink of DNB sits on the Council on Economic Issues (Raad voor Economische Aangelegenheden or REA), a subsidary body to the Cabinet. Finally, DNB has a seat on the Central Economic Commission, which does preparatory work for the REA.
