Weidmann plays down need for more ECB stimulus

Jens Weidmann – the head of the Bundesbank and a governing council member of the European Central Bank – warned on Friday that the longer we keep going with ultra-loose monetary policy, the greater the risks.

He also said that the central bank’s existing monetary measures still need time to filter through.

“I see no reason to talk down the economic outlook and paint a gloomy picture,” he told a conference attended by ECB chief Mario Draghi.

"We should also not forget that the monetary policy measures already taken still need time to fully feed into the economy," he added.

“The longer we stay in ultra-loose monetary policy mode, the less effective this policy will become and the more the attendant risks and side-effects will come into play."