For years, inflation in the euro area hovered around 1.5%, below the European Central Bank's (ECB) target of around 2%, despite historically low interest rates. But then it suddenly shot up in summer 2021, peaking at 10.6% in October 2022. How could inflation go up so fast?
Reliable financial sector
Taking out health insurance, saving for a home, putting aside money for extra pension income – for all your money matters, you must be able to rely on financial institutions, such as banks and insurers. At De Nederlandsche Bank (DNB) we are working hard to keep the financial sector secure and stable. Financial institutions must hold sufficient capital and comply with the law, and we supervise whether they do so. If they do not, we will take action. If your bank goes bankrupt, we will activate the deposit guarantee scheme. As an account holder, you will get your money back up to a maximum of EUR 100,000.
In 2022, Dutch households again invested more in emerging markets such as South Africa, Brazil and China. Despite net purchases, the value of these investments decreased to €2,241 million at the end of 2022 due to price losses, down from a record €2,631 million at the end of 2021.
Interview with Klaas Knot by Martin Arnold of the Financial Times. Published on December 26, 2022.