Interview Klaas Knot with Nikkei
Klaas Knot spoke with Takerou Minami from Nikkei about monetary policy and financial stability. The interview was published on April 30th 2024.
Read more Interview Klaas Knot with Nikkei
Towards an economy that works better for everyone
Press release
The Dutch economy is strong and resilient, but not everyone in the Netherlands experiences it that way. Many people are struggling financially or have concerns about their future. The Netherlands should therefore strive for a highly developed and finely tuned economy that works better for everyone. DNB President Klaas Knot advocated this on Thursday at the presentation of De Nederlandsche Bank’s annual report.
© DNB
From a macroeconomic perspective, the Dutch economy is doing “quite well”, Knot says in the annual report. Despite continued sluggish economic growth, the economy is still running above capacity and we have not entered a deep recession despite the pandemic and high inflation. Inflation is receding and unemployment remains exceptionally low.
“However, our economy also faces significant, structural challenges: in the labour market and in the housing market, and when it comes to dealing with our limited physical space and ensuring our living environment remains healthy. And despite our great collective prosperity, also by international standards, many households are struggling,” according to Knot.
Despite the fact that the Netherlands is doing quite well, there are underlying inequalities that seem to be fuelling discontent in society. This is especially evident in the housing market and the labour market, where problems need to be addressed. At the same time, a new government needs to nurture business as a key driver of the Dutch economy. The business climate in the Netherlands is still good, and it is vital to keep it that way.
Would you like to know more?
In the introduction to the press conference on our annual report on 14 March, Klaas Knot and his fellow Executive Board members spoke about the challenges facing our economy. They also talked about Europe, the digital transformation in the financial sector and DNB’s resolution task. Read the introduction to the press conference here.
Interesting articles
-
-
Turnaround in the economy
According to the DNB business cycle indicator, the low point of the economic cycle has been reached, after which economic growth will pick up gradually and at a moderate pace this year.
Read more Turnaround in the economy -
Conduit activities in the Netherlands declined in fourth quarter of 2023
In the fourth quarter of 2023, foreign multinationals transferred over €300 billion in conduit activities from the Netherlands abroad. These relocations indicate adjustments in business structures, and may be due to the introduction this year of a minimum tax for these international companies.
Read more Conduit activities in the Netherlands declined in fourth quarter of 2023 -
Introductory remarks upon the presentation of the 2023 annual report
“We see that while the Dutch economy is doing quite well, it is not working well enough for some groups in society.” Klaas Knot said this at the presentation of DNB’s 2023 Annual Report.
Read more Introductory remarks upon the presentation of the 2023 annual report
