ECB picks Spain's Arce for key economics job
Reuters
Published Dec 07, 2021 02:24PM ET
FRANKFURT (Reuters) - The European Central Bank said on Tuesday it had picked Spain's Oscar Arce as the director general of its economics department, a key position that involves preparing the ECB's growth and inflation forecasts.
He will replace Belgian economist Frank Smets, a key aide to former President Mario Draghi, who will now go on unpaid leave for one year before coming back as an adviser.
Arce, who will take up his new role in the first quarter of next year, is currently the director for Economics, Statistics and Research at the Banco de España.
He took up that role in 2018, when his predecessor Pablo Hernández de Cos was promoted to governor of the Spanish central bank.
Arce has a doctorate from the London School of Economics. His latest research focussed on the effects of central banks' bond-buying programmes.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.