Below are some key takeaways from the keynote speech delivered by Jens Weidmann, President of the Deutsche Bundesbank and ECB board member, at the European Banking Congress.
- Monetary policy should be effective in reaching the inflation mandate, leave enough room for market activity.
- He sees no reason to depart from the pre-crisis monetary policy framework.
- Lean balance sheet would help future crisis response.
- ECB should change toolbox only after normalization.
- Current ECB policy space is rather limited.
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