Bundesbank president Jens Weidmann presents the institution's annual report
- Policy normalisation will take a long time
- If economic upswing continues and price rise, no reason to not end QE this year
- Rapid Eurozone growth confirms that inflation will move towards target
- There is evidence that FX movements are having smaller impact on inflation than in the past
- Germany and Eurozone growth was "very satisfactory"
- Says that bigger QE reduction or a clearer end date would be justifiable
Weidmann mainly reiterating the same hawkish stance. A little teaser of things to come if he becomes ECB president towards the end of next year?
EUR/USD still at 1.2338 currently. EUR/GBP rising further to 0.8838 as sterling remains offered. EUR/CHF still range-trading at 1.1553.
