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.
The Dutch economy will continue to grow, but not as strongly as in the past years, according to new estimates by the Netherlands bureau for economic policy analysis CPB. Despite this, the Dutch economy continues to grow faster than the average in the euro zone, ANP reports.
Tenants of social rental housing do not have to worry about any extreme rent increases in the coming years. The association of housing corporations Aedas and the Woonbond made a new social lease agreement in which they agreed that social housing tenants will not carry the costs of making their homes more energy-efficient. And rents will rise by no more than inflation in the coming years, RTL Nieuws reports.
The agreement still has to be approved by the members of both organizations.
NS is critical about the increase of the low VAT rate, which also covers train tickets, from 6 to 9 percent. According to the rail company, this will make public transport more expensive compared to the car, and NS worries that more people will opt for the car instead, NOS reports.
The price for train tickets and subscriptions will increase on January 1st. According to NS, the increase is mainly due to the VAT increase.
The Rutte III government needs to take measures to encourage purchasing power development, because employees otherwise benefit from economic growth only to a limited extent, Rabobank concluded in a study into wage developments. "While the Dutch economy grew by 2.9 percent last year, the collective bargaining wages only climbed 1.4 percent - only barely enough to rise above the 1.3 percent inflation", the bank said, NU.nl reports.
The VAT increase next year will increase costs for Dutch households by an average of around 300 euros per year, according to ING economists. The low VAT rate will increase from 6 to 9 percent on January 1st, which is expected to increase inflation by 0.6 percent extra, ANP reports.
The outlook for the Netherlands economy is still positive, the International Monetary Fund said in its annual report on the Netherlands. The IMF again raised concerns about the growth of wages in the country being smaller than other countries with comparable economies. Annual wage growth in the Netherlands is around 1 percent, too little to compensate for inflation, the IMF said, NOS and ANP report.
The stock exchanges in Europe opened with strong minuses on Tuesday following heavy exchange losses in Asia and on Wall Street. The AEX index on Beursplein 5 in Amsterdam recorded 3.5 percent lower at 523.69 points shortly after start of trading. All 25 main funds were in the red, AD reports.
The MidKap plunged 3.8 percent to 785.67 points and the stock exchanges in London, Paris and Frankfurt saw a 3 percent drop in value.
The Dutch economy continues to grow steadily and its growth is expected to reach 3.3 percent this year, according to planning office CPB's estimate in its Macro Economic Exploration, which was published on Wednesday. If this estimate holds true, this will be the first time the Dutch economy grows by more than 3 percent since the outbreak of the economic crisis in 2007. In 2018 the gross domestic product is expected to grow by 2.5 percent, NU.nl reports.
The Dutch economy will grow by 2.5 percent this year - the highest growth in a decade, Dutch central bank DNB expects. The economy is doing better in all aspects, but wages are still lagging behind, the bank said in its latest estimate on Monday, NOS reports.
DNB's expectations are rosier than the central planning office CPB's estimates in March. The CPB then predicted economic growth of 2.1 percent. The office is releasing its latest estimates on Wednesday. The Dutch government uses CPB estimates to make its policy.
Since the introduction of the public transit card in 2008, train ticket prices increased by as much as 35 percent, about twice as much as inflation, according to calculations by newspaper AD and treinreiziger.nl.
Inflation in the Netherlands increased from 0.6 percent to 1.0 percent in December, according to Statistics Netherlands on Thursday. But despite this increase, the Dutch inflation over 2016 was at its lowest level in nearly 30 years. Over 2016 inflation in the Netherlands increased only 0.3 percent. The last time inflation was so limited was in 1987, according to the statistics office.
Inflation in the Netherlands increased to 0.4 percent in October, the highest level of the past six months, according to Statistics Netherlands on Thursday. In September inflation was still at 0.1 percent.
According to Statistics Netherlands, the increase in inflation can mainly be attributed to higher petrol and diesel prices. In October a liter of gasoline cost 1.52 euros on average, 4 cents more than a year earlier. The price of motor fuels hasn't been this high in over a year, according to the statistics office.
In the third quarter of this year collective bargaining wages increased by 2.1 percent compared to the same period last year. That is the biggest increase since 2009, according to figures from Statistics Netherlands.
For the first time in nearly 30 years, products and services in the Netherlands were cheaper than in the month before. In July inflation fell to minus 0.3 percent, Statistics Netherlands announced on Thursday.
Inflation in the Netherlands dropped to 0.0 percent in April, compared to 0.6 percent in March. This put inflation back to the same level as in 2015, which was the lowest level since 1987, according to figures released by Statistics Netherlands.
The Central Planning bureau sees the Dutch economy growing by 1.8 percent this year, according to its central economic plan. This is somewhat lower than the 2.1 percent growth the CPB expected in December
Inflation in the Netherlands showed a very slight increase last month. Statistics Netherlands' Consumer Price Index marked inflation at 0.7 percent in October, compared to the 0.6 percent in September.
The planned sales tax increase could have an impact on inflation. If the value added tax is indeed increased from 6 percent to 21 percent, inflation could increase by up to 0.9 percent.
Inflation in May rose to 1.1 percent according to the consumer price index, reports Statistics Netherlands (CBS). Prices in the month were pushed up by increasing holiday and travel expenses, leading to the highest level reached in the last seven months.
Inflation in April rose mainly due to increase in phone prices, reports Statistics Netherlands (CBS). There are now more new models that are sold at higher prices than their predecessors. The developments in food prices are also affecting the level of inflation.
Inflation in the Netherlands has risen to 0.4 percent, according to the Consumer Price Index (CPI) measurement, reports the Dutch Central Bureau for Statistics (CBS). After a sharp decline in January, inflation is rising for the second consecutive month. In February, it stood at 0.2 percent.
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.
The real disposable income of households was 2.5 percent higher in the 3rd quarter of 2014 than in the same period last year, Statistics Netherlands announced today. The disposable income of households also increased in the first two quarters of this year.