Comments from Weidmann in Mannheim

  • Risks are on the downside and uncertainty is high
  • Bad news from economy could continue for a while
  • Growth rebound projections in 2020 and 2021 realistic
  • Important not to waste time unnecessarily normalizing ECB policy
  • 2019 eurozone inflation could be noticeably lower than ECB's Dec projection due to oil prices

Dovish stuff from Weidmann and the euro is rightfully selling off.