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DNB president Klaas Knot lashes out for new 'big bazooka' from ECB

2019-09-13T09:41:13.134Z

Klaas Knot, president of De Nederlandsche Bank (DNB), explicitly speaks out against the measures announced by the European Central Bank on Thursday.


Klaas Knot, president of De Nederlandsche Bank (DNB), explicitly speaks out against the measures announced by the European Central Bank on Thursday.

He does this on Friday in a press release from De Nederlandsche Bank (DNB).

"This broad package of measures, and in particular the restarting of the bond buying program, is disproportionate to current economic conditions, and there are good reasons to question its effectiveness," said Knot, who is also a member of the Governing Council of the European Central Bank (ECB) and was present at the meeting on Thursday.

"The economy in the euro area is running at full capacity, and wages are rising. Financing conditions for citizens, companies and governments are unprecedentedly broad, and are not an obstacle to lending, consumption and investment," Knot continues.

"At the same time, there are increasing signs of a lack of investments with a low risk profile, distorted pricing on financial markets and excessive risk-seeking behavior on housing markets."

Source: nunl

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