Economics
ECB's Weidmann Says Central Banks May Need to Tackle Imbalances
- Bundesbank president is in running to be next head of the ECB
- Inflation is prime goal but financial stability also important
Jens Weidmann, president of the Deutsche Bundesbank.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Jens Weidmann, a top candidate to lead the European Central Bank next year, said policy makers must be willing to act if needed to prevent financial imbalances.
While arguing that monetary officials should have only one mandate -- price stability -- and generally let national authorities in the euro area handle tasks such as reining in asset prices, he acknowledged that those macroprudential tools are still poorly understood.