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Speaking at a press conference in Frankfurt, Deutsche Bundesbank President, also the ECB Vice-President Jens Weidmann said that the German growth slowdown has extended into 2019 and could fall well short of 1.5%, but there is still no reason to be overly pessimistic about the economy.

Additional quotes:

   “¢   Monetary policy normalization is still the baseline scenario.
   “¢   Normalization of monetary policy will be a gradual process, lasting several years.
   “¢   Ending QE was only the first step.
   “¢   No acute need to adjust ECB rate guidance.