December 8, 2016 / 4:49 PM / 4 years ago

Weidmann did not agree to ECB decision to extend bond buys: FAZ

Central Bank (Bundesbank) Chief Jens Weidmann attends a press conference after the Franco-German Financial Council meeting in Berlin, Germany, September 23, 2016. REUTERS/Axel Schmidt

FRANKFURT (Reuters) - The president of Germany’s Bundesbank, Jens Weidmann, did not agree with Thursday’s decision by the European Central Bank to extend its bond purchases, German newspaper the Frankfurter Allgemeine Zeitung (FAZ) reported.

The Bundesbank declined to comment on the report, in which the FAZ said Weidmann, who sits on the ECB’s policymaking Governing Council, expressed objections to the plan.

The ECB trimmed back its asset buys in a surprise move on Thursday but promised protracted stimulus to aid a still fragile recovery, and dismissed any talk of tapering the program away. [L5N1E323H]

Central banking sources told Reuters that Weidmann’s scepticism about the ECB’s bond-purchase program is well known and has not changed.

Reporting by Frank Siebelt; Writing by Paul Carrel; Editing by Victoria Bryan

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