Draghi Struggles to Shut Down ECB Debate Weidmann Wants to Have
- ECB president says it’s not time to change the policy stance
- Other council members have suggested shifting guidance
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Mario Draghi may have hoped to put an end to the bubbling debate on the European Central Bank’s exit strategy on Thursday. It didn’t take long for a reminder of how complicated this will be.
Speaking in Frankfurt, the ECB president sought to quash the idea that policy makers will begin tightening policy sooner than planned and dispel doubts about the planned route to the eventual stimulus exit. Less than three hours later, Bundesbank President Jens Weidmann re-opened the issue, saying that a discussion on forward guidance is “legitimate.”