Economics
Weidmann Meets the People With Reassurances on ECB Policy Path
- Bundesbank president addresses citizens at open-day event
- Normalization will ‘hopefully’ come and mustn’t take too long
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German savers critical of the European Central Bank’s ultra-loose monetary stance have received some words of reassurance from the head of their own monetary institution.
Normalization will “hopefully happen, and that’s something we’re working on and discussing,” Bundesbank President Jens Weidmann told a public audience between live music and beer booths at the institution’s Frankfurt headquarters on Saturday. “We are coming out of the worst economic crisis in post-war history, and therefore expansive monetary policy is appropriate. We just shouldn’t hold onto this policy for longer than necessary.”