The European Central Bank should monitor supply shocks that affect prices, according to Governing Council member Klaas Knot. He emphasized that while it may be appropriate to overlook temporary shocks if inflation expectations remain stable, a strong response is necessary if there is a risk of those expectations becoming unanchored.
European Central Bank Governing Council member Klaas Knot expressed optimism about the Euro-Zone economy, citing a moderation in inflation and declining borrowing costs. He attributed recent sluggish growth to monetary-policy tightening aimed at controlling consumer prices and noted rising confidence in achieving the 2% inflation target sustainably.
Klaas Knot, a member of the European Central Bank Governing Council, emphasized the urgent need for European governments, particularly France, to improve their fiscal management. Speaking at a Group of 30 event in Washington, he called for significant fiscal consolidation in France to restore public finances to a stable condition.
The European Central Bank must remain flexible with interest rates due to a weak economy, according to Governing Council member Klaas Knot. He emphasized the importance of keeping all options open amid significant uncertainty regarding the supply side, which serves as a hedge against potential risks to growth and inflation.
The Financial Stability Board has extended the term of its chair, Klaas Knot, until June 30, delaying the search for his successor. Knot was originally set to leave on December 1 but will now remain in his role until he retires as governor of the Dutch central bank after completing two terms.
European Central Bank policymakers are divided on the potential for a significant half-point interest rate cut in December, following recent back-to-back quarter-point cuts. While some officials, like Mario Centeno and Klaas Knot, see data trends supporting larger cuts, others, including Christine Lagarde and Robert Holzmann, emphasize a cautious approach, focusing on incoming economic data. Inflation in the eurozone has recently dipped below the ECB's 2% target for the first time since June 2021, raising expectations for further rate adjustments.
Dutch Central Bank President Klaas Knot has urged the government to reverse rent control measures, citing soaring housing prices and dwindling availability. He emphasized the importance of considering the consequences of the affordable rent act adopted by the previous administration.
Klaas Knot, governor of the Dutch central bank and chair of the Financial Stability Board, has issued a stark warning to politicians about the dangers of neglecting financial regulation. He cautioned that a lack of focus on safeguarding the financial system could lead to a scenario where governments are forced to devise rescue plans for an economy in free fall. This warning comes amid increasing global resistance to measures aimed at enhancing financial safety.
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