Economics
The New Bundesbank Chief’s Views on Key Issues Facing the ECB
- Incoming president Joachim Nagel to take office from January
- Public remarks suggest similar stance to Weidmann on QE
The Deutsche Bundesbank headquarters stand in Frankfurt, Germany
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
There’s plenty to suggest Germany’s newest addition to the European Central Bank’s Governing Council won’t stray far from the Bundesbank’s traditional conservatism.
Joachim Nagel, who arrives from the Bank for International Settlements, has already spent more cumulative years working for the German central bank than outgoing President Jens Weidmann, who’s embodied the institution’s aversion to inflation and unease at unconventional tools like quantitative easing.