Economics
ECB’s Weidmann Sticks to View Price Gains Show No Stimulus Need
- Bundesbank president is a contender to be next head of the ECB
- Governing Council will meet June 6 to set monetary policy
Jens Weidmann
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
European Central Bank policy maker Jens Weidmann said for a second day that euro-zone price pressures are still increasing, signaling no need for additional stimulus when the Governing Council meets early next month.
While the currency bloc posted surprisingly strong growth at the start of the year, surveys of confidence and private-sector activity suggest the second quarter is weaker, and market measures of inflation expectations have plunged. ECB officials are preparing updated projections that will show if they still foresee a pickup in the second half of the year, and which will be central to their June 6 meeting to debate whether more support is needed.