has been reappointed for a third six-year term at the head of the institution responsible for implementing the eurozone’s monetary policy in the grand duchy. Luxembourg’s cabinet formally Reinesch’s mandate as governor of the Luxembourg Central Bank (BCL) on 15 April 2024.

65-year-old Reinesch, who is often described as a ‘discreet’ man, has held the post since 1 January 2013, when he replaced Yves Mersch. Reinesch is also a member of the European Central Bank’s governing council, its monetary policy-setting body, and a member of its general council, an advisory body.

He previously sat on the boards of BGL BNP Paribas, the European Investment Bank and National Credit and Investment Company (SNCI). A graduate of the London School of Economics, Reinesch was director general of the ministry of finance from 1995 to 2012.

The appointment came on the same day that the BCL presented its analyses of the 2024 draft budget to MPs. “The evolution of economic growth in Luxembourg, inflation trends, tax revenues and public spending were among the topics discussed during the exchange between BCL representatives and MPs. Some of the MPs’ questions focused on the impact of the package of measures aimed at boosting the housing market and on the projections on which the draft budget is based,” the Chamber of Deputies.

Originally published in French by and translated for Delano