Comments from the Bundesbank leader:

  • Monetary policy should look through energy price induced inflation fluctuations because it's temporary
  • Creation of crossborder deposit and unemployment insurance programs premature
  • Asset purchases blur the line between monetary and fiscal policy
  • Expansive monetary policy should not be pursued longer than absolutely necessary
  • Low interest rates could postpone structural reforms and budget consolidation

Weidmann is a hawk and it's no surprise that he will push back against further QE. No reaction fro the euro.