Bloomberg News

Weidmann Tells Bild Inflation Contained If ECB Sticks to Mandate

May 10, 2012

European Central Bank council member Jens Weidmann said if policy makers stick to the bank’s core principles, inflation will remain contained, Germany’s Bild newspaper reported, citing an interview.

“The ECB council decides on monetary policy,” Weidmann, who also heads Germany’s Bundesbank, is quoted as saying. “I stand for monetary stability in the euro area. At the moment, it is decisive that the guardians of the currency don’t let their cart get hitched to the carriage of fiscal policy. If we hold to our principles, then there is no danger that inflation will get out of control.”

Weidmann also said that Germany, which for many years enjoyed inflation below the euro-area average, may now see above-average inflation rates due to its strong economy and low unemployment, Bild reported.

To contact the reporter on this story: Matthew Brockett in Frankfurt at mbrockett1@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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