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Belgium's Praet to be ECB's chief economist


economy

Belgium's Praet to be ECB's chief economist

The European Central Bank has chosen Belgian Peter Praet as its chief economist.

German born, the 62-year-old has worked previously at the International Monetary Fund and Fortis Bank and as the Belgian Minister of Finance’s Chief of Staff before joining the ECB’s Executive Board.

He replaces Juergen Stark who quit the board reportedly because he was unhappy about the bank’s bond buying programme.

Praet will oversee the ECB economists who prepare the projections on which interest rate decisions for the eurozone are made.

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