Comments by ECB member Jens Weidmann
- It will take 'some time' until deposit rate exceeds 0%
- Eurozone upswing to continue despite downside risks
- Convinced that ECB's target inflation rate remains appropriate
- Moving to higher inflation target could jeopardise stabilisation gains
- Even if QE has come to an end, monetary policy stance to remain very accommodative
- Ending QE is just the first step, but important to actually 'get the ball rolling'
Nothing new as well from Weidmann. If anything, it feels like he's less hawkish than usual. But considering he's one of the favourites to take over from Draghi come October next year, he probably doesn't want to pre-commit as well since the call for higher rates would then fall on his lap instead.
