September 13, 2019 / 1:43 PM / 7 days ago

ECB stimulus excessively large: Weidmann

FILE PHOTO - German Bundesbank President Jens Weidmann presents the annual 2018 report in Frankfurt, Germany, February 27, 2019. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - The European Central Bank delivered excessive stimulus on Thursday as economic conditions had not deteriorated enough to necessitate such a large package, Bundesbank President Jens Weidmann told German newspaper Bild on Friday.

Weidmann, one of the most vocal critics of the ECB’s easy monetary policy, said it was clear that rates will stay low for a very long time and his goal is to avoid any undue delay in rate hikes.

Reporting by Balazs Koranyi; Editing by Francesco Canepa

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