Bundesbank board member Wuermeilinmg speaks to Bloomberg

  • No sign in the economy that is pointing towards a dramatic downturn
  • Doesn't expect turbulence even from a no-deal Brexit
  • Says that we are well prepared for a no-deal Brexit

Well, there hasn't been any convincing signs that there will be a solid rebound either. The real concern here is if hard data for Q4 starts pointing to a lack of recovery, which would highlight that the plight faced by the German/Eurozone economy runs much deeper. And such sentiment would threaten to derail the ECB's normalisation plans next year.