De Nederlandsche Bank published remarks by President Klaas Knot at the presentation of its 2024 annual report, warning that geopolitical instability and the prospect of a global trade war, alongside the ongoing war in Ukraine and Europe’s plans to rapidly increase defence spending, are driving uncertainty and require a stronger Europe. Knot framed “robust policies” that anticipate future challenges and help absorb shocks as essential, while positioning central banks’ core contribution as safeguarding financial and price stability. The remarks also highlighted longer-term vulnerabilities that remain unresolved, including inflation, domestic economic tightness and sluggish European growth. In introductory comments to the annual report press conference, Knot and other Executive Board members also discussed simplifying financial-sector rules without loosening them excessively, anti-money laundering controls at banks, defences against global cyberthreats and the digital euro, alongside publication of the annual report (with an English-language version indicated as forthcoming).
De Nederlandsche Bank 2025-03-20
De Nederlandsche Bank urges robust Europe-wide policies amid trade war and defence spending risks and reiterates focus on price and financial stability
De Nederlandsche Bank President Klaas Knot stressed the need for robust policies to address geopolitical instability, potential global trade wars, and increased European defense spending, highlighting central banks' role in maintaining financial and price stability. Knot also noted unresolved issues like inflation, economic tightness, and sluggish European growth, while discussing simplifying financial-sector rules, anti-money laundering controls, cyberthreat defenses, and the digital euro.