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Weidmann: No reason to be overly pessimistic about economic slowdown

Bundesbank chief, Jens Weidmann, comments as he presents the central bank’s annual report for 2018

  • German activity appears sluggish at the turn of the year
  • German growth dip has extended into 2019
  • Full-year growth to fall ‘well short’ of 1.5%
  • Says that German growth is supported by rising employment, wages
  • Normalisation of monetary policy will be a gradual process
  • That process could last up to several years
  • Ending QE was only the first step

ForexLive

With regards to monetary policy, he’s speaking about the ECB but otherwise the comments here are mostly in his capacity as Bundesbank chief. Nothing that really stands out all too much from his remarks but if anything, it’s at least that he’s acknowledging that German growth this year is likely to be below potential once again.

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