FRANKFURT - Germany’s economic weakness may last longer than expected, but the European Central Bank need not formally delay a planned interest rate increase, Bundesbank President Jens Weidmann said on Wednesday.
The economy will grow below its potential of 1.5 percent, Weidmann said, confirming widespread expectations the ECB would slash growth and inflation projections at its meeting next Thursday. He also dismissed suggestions that the ECB’s interest rate guidance should be changed, arguing that there was no “acute need” for a move given that the current wording allows for flexibility.
Growth in Eurozone-land will not happen yet. But perhaps Weidmann wants to reduce growth in Germany not just the whole Eurozone.
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