Central Banks
ECB Could Face Biggest Personnel Shakeup Since 2019 This Year
- Terms of seven national central-bank chiefs expire this year
- ‘Rookies could be more prone to make mistakes,’ ING says
The headquarters of the European Central Bank (ECB) in Frankfurt.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The European Central Bank is set to enter a new phase of unpredictability as the terms of seven of its 26 interest rate-setters end by December, marking its biggest personnel shakeup since 2019.
They include the panel’s longest-serving member, Klaas Knot of the Netherlands, along with several former finance ministers who were veterans of Europe’s debt crisis and whose expertise may be missed as budgets are once again stretched and a US-led trade war unfolds.