Christine Lagarde, who will soon be president of the European Central Bank (ECB), lashed out at euro countries like the Netherlands and Germany for not spending their budget surplus to stimulate the European economy. "Why not use that budget surplus and invest in infrastructure? Why not invest in education and why not invest in innovation?" she said, according to NU.nl.
ABN Amro is lowering the interest on its freely withdrawable savings accounts from 0.02 percent to 0.01 percent as of November 1st, the bank said on its website on Friday. Savings interest at ING is still 0.02 percent and at Rabobank 0.03 percent, NU.nl reports
The Netherlands surpassed Switzerland and Germany as the most competitive economy in Europe. Worldwide, the Netherlands is in fourth place, after Singapore, the United States and Hong Kong, according to a comparison by the World Economic Forum (WEF).
According to the WEF researchers, "an entrepreneurial culture, flat organizations and growth of innovative companies" have made the Dutch economy much more agile.
The falling mortgage rate broke a new record on Monday. For the first time in Netherlands history, the interest for the longest fixed-interest mortgage period of 30 years dropped to 2 percent, AD reports based on figures from Actuelerentestanden.nl.
The mortgage provider that broke this record first was Reaal with its annuity mortgage called Lekker Wonen. The interest rate only applies to homes that are eligible for a National Mortgage Guarantee - homes with a value up to 290 thousand euros.
Klaas Knot, president of Dutch central bank DNB, explicitly denounced a new package of measures announced by the European Central Bank on Thursday. He called the measures "disproportionate to current economic conditions" and questioned their effectiveness in a press release on Friday.
Dutch consumers will start paying interest on their savings accounts in the near future, various analysts told Financieele Dagblad. They describe negative interest rates on savings as an unavoidable future.
The cash that Dutch banks keep and are required to deposit at the European Central Bank currently costs them more than half a billion euros per year, due to the negative deposit interest rate. "Dutch banks together have 138 billion euros in surplus liquidity, and they pay 0.4 percent on that", Elwin de Groot of Rabobank said to FD.
ING customers are furious by the prospect of their bank maybe charging negative interest on their savings accounts. CEO Ralph Hamers mentioned this as an option to cushion the blow should the European Central Bank decide to cut interest rates again, RTL Z reports.
On Wednesday afternoon European Central Bank president Mario Draghi is visiting the Tweede Kamer, the lower house of Dutch parliament. He can expect to be met with hostility and demands for the ECB to stop pushing billions of euros into the European economy in an effort to boost growth, NU.nl reports after speaking with numerous parliamentarians.
Dutch bank ING is lowering its interest on freely available savings accounts to 0.3 percent. And with that all three large Dutch banks are closer to a 0 percent interest rates on savings accounts than 1 percent
ABN Amro business clients may soon feel the effects of the European Central Bank's low interest rates. From October 1st, the Dutch bank is adjusting its conditions to state that the bank can give negative interest rates to account holders with a business checking or -savings account
The European Central Bank's "abnormal measures" policy of keeping interest rates low and buying up debt is no longer having effect because these measures are now considered normal, the Central Planning Bureau concludes in its annual report on important economic developments and financial risks for the Dutch economy
Dutch central bank DNB is deeply concerned about the "profound consequences" the superlow interest rates will have on the entire financial sector, director of Supervision at DNB Jan Sijbrand said on Thursday
Hundreds of protesters gathered on Dam Square in Amsterdam on Sunday to express their solidarity with Greece. The European Union will hold an emergency summit on the so-called Grexit on Monday. Greece submitted a final proposal, which Jean-Claude Juncker, chairman of the European Commission, called a "good basis" for the summit, NRC reports.
The Dutch economy is expected to grow by 1.6 percent and 1.7 percent in 2015 and 2016, respectively, the European Commission revealed on Tuesday. This growth estimate is below the predicted Euro Area and European Union averages and also below the Dutch forecasts presented earlier by ING.
Inflation in the Netherlands decreased to the lowest level in 27 years in January, with the average price increase coming out at exactly 0 percent. The average interest rate also decreased to 0.5 percent in January (0.8 percent in December 2014), the lowest since the start of De Nederlandsche Bank's (DNB) time series in mid 1986.
Klaas Knot, President of the Dutch Central Bank (DNB), confirmed on Sunday that he voted against the exceptional support measures of the European Central Bank (ECB). He said this in the television program Buitenhof.
Rating agency Fitch reaffirmed the Netherlands AAA rating on Friday on signs the country’s economy is recovering. The agency predicts GDP growth of 1.2 percent for 2015.
Klaas Knot, president of De Nederlandsche Bank (DNB), is against European Central Bank (ECB) president Mario Draghi's plans to turn on the money printing press. He also thinks that the Netherlands should further reduce mortgage tax credit.
Up until 2018 ABN Amro will be srapping between 650 and 1,000 jobs. The bank wants to further concentrate and improve the branch network by expanding the offerings of each office.
As promised earlier this week, ING today made the final repayment of 1,025 billion euro of State Support.
ING announced today that they will repay the remaining 1.025 billion euro in State support on Friday.
According to Statistics Netherlands, the interest rate in the Netherlands is at its lowest since the beginning of the time series of De Nederlandsche Bank (DNB) mid 1986.
On Sunday, following the results of the banking examination of the European Central Bank (ECB), ING announced that they will pay off their state aid this year still.