German central bank chief 'sceptical' of ECB stimulus move

PUBLISHED ON JAN 24, 2015 7:58 PM

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Mr Jens Weidmann, head of Germany's central bank, voiced his "scepticism" about the ECB's decision to launch a trillion-euro bond-buying programme in a bid to ward off deflation and boost the eurozone economy. -- PHOTO: REUTERS 

BERLIN (AFP) - The head of Germany's central bank on Saturday voiced his "scepticism" about the ECB's decision to launch a trillion-euro bond-buying programme in a bid to ward off deflation and boost the eurozone economy.

"I regard this decision with scepticism," the Bundesbank president Jens Weidmann told the German daily Bild.

Mr Weidmann is a member of the the European Central Bank's council of governors that approved of the stimulus plan known as quantitative easing (QE) but he did not agree with the decision announced on Thursday.

"Buying sovereign debt, in a single currency union, is not like any other (monetary) tool. It brings risks," Mr Weidmann told the paper.

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