Comments by ECB governing council member, Jens Weidmann
- Germany is in a severe economic recession
- Economy can recovery sustainably once the pandemic has been overcome
- Should not lose sight of eventual exit from stimulus measures
Weidmann taking a more passive but perhaps realistic approach in assessing the economic outlook in the region. But he still maintains that hawkish tone with the final remark.
In other related news, the German court has entered into session to deliver the ruling on the ECB QE program, so one can expect a decision at any time during the session.