World Economy/Netherlands

🇳🇱

Netherlands

NLD

Europe • Sovereign Currency: EUR

Analyze Netherlands with Schema AI

Nominal GDP

$1.15T

2024

Annual GDP Growth

+1.0%

YoY Q3 2024

Inflation (CPI)

3.5%

Oct 2024 YoY

Policy Rate

3.25%

ECB Deposit Rate

10Y Sovereign Yield

2.62%

10Y Dutch State Loan (DSL)

Unemployment Rate

3.7%

Oct 2024

Debt-to-GDP

43.2%

2024

Trade Balance

+$6.8B

Sep 2024

BLOOMBERG ECONOMICS MONETARY POLICY TRANSMISSION

🇳🇱EUROPEAN CENTRAL BANK POLICY DASHBOARD

Target Instrument: Deposit Facility Rate • Sovereign: Netherlands (NLD)

STANCE: neutral

Next Meeting: 2026-10-29

LOOSER CONDITIONSIN LINE WITH TARGETTIGHTER CONDITIONS

STATUTORY BENCHMARK

3.25%Unchanged (0 bps)

Deposit Facility Rate

REAL CARRY SPREAD (r - π)

-0.25%

Accommodative Stimulus

OVERNIGHT BENCHMARK (€STR)

3.20%-5 bps

Euro Short-Term Rate

YIELD CURVE SLOPE (10Y - r)

-0.63%

Inverted Term Structure

WAGES & PRICES2 METRICS

Headline CPI Inflation (YoY)Oct 2024 YoY

Elevated above price stability band (+1.5% vs target)

CBS NetherlandsRef

3.50%

MILD LOOSE

Distance to Inflation Target (2.0%)Oct 2024 YoY

Headline inflation exceeds 2% anchor by 1.50 percentage points

CBS NetherlandsRef

+1.50%

MILD LOOSE

SUPPLY & DEMAND2 METRICS

Annual Real GDP Growth RateQ3 2024

Sluggish real economic momentum

CBS NetherlandsRef

1.00%

MILD TIGHT

Unemployment Rate (Labor Slack)Oct 2024

Tight labor market conditions with minimal civilian slack

CBSRef

3.70%

LOOSER

FINANCIAL CONDITIONS4 METRICS

Deposit Facility RateECB Deposit Rate

Official statutory policy target rate set by European Central Bank

European Central BankRef

3.25%

IN LINE

Real Carry Rate (Policy - CPI)Calculated

Negative real rate stance subsidizing borrowing costs

European Central Bank vs CBS Netherlands

-0.25%

IN LINE

10-Year Sovereign Benchmark Yield10Y Dutch State Loan (DSL)

Long-term sovereign borrowing benchmark discounting term premium & inflation risk

DSTARef

2.62%

LOOSER

Yield Curve Slope (10Y - Policy Rate)Calculated

Inverted yield curve by 0.63% signaling restrictive monetary drag

Sovereign Debt Desk vs Central Bank Target

-0.63%

TIGHTER

EXTERNAL & FISCAL2 METRICS

Current Account / Trade BalanceSep 2024

Trade balance surplus reinforcing sovereign foreign exchange buffer

CBSRef

+$6.8B

MILD LOOSE

General Government Debt / GDP2024

Fiscal debt load within statutory prudential headroom boundary

DNB / CBSRef

43.20%

LOOSER

HISTORICAL RATE DECISION TRAJECTORY (DEPOSIT FACILITY RATE)

Verified Chronological Decisions

2026-10-09

3.25%

Policy Assessment Summary: Key ECB interest rate on the deposit facility.

Key Domestic Equities & Capital Markets

Major corporate champions tracked in WOWS with sovereign economic exposure

Index: AEX Index (AEX)

ASML• Semiconductor Lithography