Below are some of the key takeaways, via Reuters, from the speech delivered by the Bundesbank President and the ECB Governing Council Member Jens Weidmann in Freiburg, Germany.
- The inflation dampening effect of digitalisation is likely to been rather small so far.
- In the new long-term state of equilibrium, the potential for price reductions will be exhausted and its influence on the inflation rate will have disappeared.
- I am convinced that we should continue to aim for an inflation rate below, but close to, 2 percent over the medium term and should not raise doubts about the credibility of our monetary policy.
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