October 13, 2017 / 2:24 PM / 10 months ago

No need for ECB to continue buying bonds: Weidmann

WASHINGTON (Reuters) - There is no more need for the European Central Bank to continue providing monetary stimulus to the euro zone through bond purchases, Bundesbank President Jens Weidmann said on Friday.

German Bundesbank President Jens Weidmann gives a speech at the German Banking Congress in Berlin, Germany, April 6, 2017. REUTERS/Fabrizio Bensch

“I don’t see the need to continue pressing on the gas pedal of monetary policy and we are doing just this if we continue to make further purchases every month,” Weidmann said after a meeting of G20 finance ministers and central bank governors in Washington.

Weidmann said the ECB would make a decision the future course of its massive stimulus based on the price outlook in the single currency bloc.

“The improved growth dynamic is also relevant from monetary policy perspective as it opens perspectives for a normalization of monetary policy,” he said.

Reporting by Gernot Heller; Writing by Joseph Nasr; Editing by Francesco Canepa

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