ECB Weidmann's opposition towards ECB QE unperturbed

FXStreet (Bali) - Bundesbank head and ECB governing council member Mr. Weidmann reiterated over the weekend, in an interview with Frankfurter Allgemeine Sonntagszeitung, his reluctance to support ECB's sovereign QE.

Weidmann's opposition towards QE was strongly endorsed by German FinMin Mr. Schaeuble. Weidmann's said that the possible decision by the ECB to buy sovereign bonds is not warranted. Referring to the German economy, Weidmann said that "as things are at the moment and if oil prices remain this low, inflation will be lower than expected, but growth will be better", adding that "the situation in Europe isn’t as bad as some people believe."