At the UBS European Conference today Governor Knot spoke about the economic outlook as we have entered the second wave of the pandemic. Next, he drew lessons for the policy response based on crisis experiences.
Lees meer over Speech Klaas Knot - “Monetary policy in the face of the Corona pandemic”In his opening statement in European Parliament at the formal hearing for the position of member of the Executive Board of the ECB, Frank Elderson spoke about the challenges facing the ECB and Europe, notably Covid-19 and the climate crisis, and about gender diversity.
Lees meer over Opening Statement by Frank Elderson to the Economic and Monetary Affairs Committee of the European Parliament‘In zijn Academielezing bij het Planbureau voor de Leefomgeving brak Frank Elderson een lans voor de verduurzaming van de economie en de rol van de financiële sector. “Het is nu tijd om de natuur, ons klimaat, onze biodiversiteit – waar wij als mens integraal deel van uitmaken – niet langer op de achtergrond te zetten, maar prominent op de voorgrond. Ons klimaat en onze biodiversiteit staan onder grote druk. En dat leidt tot grote risico’s. Risico’s waar ons financiële systeem niet immuun voor is,” aldus Frank Elderson.
Lees meer over Speech Frank Elderson - PBL Academielezing: "Verduurzaming van de economie en de rol van de financiële sector"At the OMFIF-DNB Conference ‘Developing European Capital Markets’ governor Knot said the Capital Markets Union has clearly moved on from being a ‘nice to have’ to a ‘need to have’.
Lees meer over Speech Klaas Knot - “On the right track: why is the Capital Markets Union important and how do we get there”Bij de opening van het Rotterdam Energy Port congres pleitte DNB-directeur Olaf Sleijpen voor effectievere beprijzing van CO2-uitstoot en voor meer groene investeringen. Die zijn volgens Sleijpen nu nodig om ervoor te zorgen dat de Nederlandse en Europese economie in 2050 klimaatneutraal is.
Lees meer over Speech Olaf Sleijpen - “In veilige haven: hoe maken we de Nederlandse economie tijdig klimaatneutraal?”‘It is fiscal policy that has to be in the lead in mitigating the macro-economic consequences of this prolonged public health emergency. Efforts that monetary policy can support by keeping financing costs low for all borrowers.’ This was one of the messages governor Knot delivered at the Euro50 Group Videoconference. Knot spoke about the impact that COVID-19 will have on the ongoing ECB’s monetary strategy review.
Lees meer over Speech Klaas Knot - “The ECB’s strategy review against the background of the Covid-19 crisis”In deze halfjaarlijkse publicatie schetst de Nederlandsche Bank de ontwikkelingen die mogelijk van invloed kunnen zijn op de financiële stabiliteit in Nederland. Het Overzicht Financiële Stabiliteit is ook in het Engels beschikbaar. U vindt hier ook de OFS follow-up monitor, die een overzicht biedt van de opvolging die is gegeven aan de aanbevelingen uit voorgaande edities van het Overzicht Financiële Stabiliteit.
Lees meer over Overzicht Financiële Stabiliteit - najaar 2020As the COVID-19 pandemic unfolded back in March of this year, suddenly hundreds of thousands of financial sector workers were working from home. From board members to secretaries, our homes became our new offices, Skype became our new meeting room. That was a major shock but we adapted quickly. IT systems that once took ages to implement were rolled out in a matter of weeks. Network capacity was stepped up in record time. Also, the trend from cash to digital payments accelerated. Just before the lockdown in mid-March, the Dutch used cash for 3 out of 10 retail payments. Now, they use it for only 2 out of 10 retail payments. That’s a huge drop in cash usage in only a few months’ time. In addition, we have seen a large increase in online payments.
Lees meer over Speech Frank Elderson - “Covid-19: A Digitalisation Boost and the Supervisory Response”At a two-day digital conference organized by UBS, Klaas Knot explained the role central banks can play in aiming for a green recovery after the economic crisis, caused by the pandemic. Irrespective of the many unknowns, we should aim for a 1.5 degree economy when shaping this recovery, he said.
Lees meer over Speech Klaas Knot - “Steps central banks can take on the road to a green recovery”Although until now the banking sector has done relatively well, governor Knot cautioned that, as the COVID-19 crisis persists and the economic impact deepens, the banking sector is likely to feel the consequences of increasing business insolvencies in the near future. In the short term, he urged fiscal and monetary authorities, supervisors, and banks to “continue to do what they have done so far: provide the necessary stimulus, use buffers and provide credit, while keeping prudent levels of capital to be ready for future headwinds.” For the medium term, Knot stressed the importance of looking more closely at regulation of non-bank financial institutions.
Lees meer over Speech Klaas Knot - “COVID-19: how to contain the impact on the financial system”
