ECB's Weidmann would welcome smaller bond buys in a year

ECB's Weidmann would welcome smaller bond buys in a year

FRANKFURT (Reuters) – The head of Germany's central bank would be pleased to see the European Central Bank buying bonds at a lower pace in a year's time, he told German weekly Die Zeit.

Bundesbank President Jens Weidmann said in the interview the time to reduce the ECB's monetary stimulus to the economy was approaching as the recovery gained pace.

"The time to keep the foot no longer on the metal, yet to take it off slightly … is approaching in my view," Jens Weidmann said in the interview, due to be appear in Die Zeit's Thursday edition.

Asked whether he sided with his Dutch colleague Klaas Knot in expecting that ECB bond purchases would not be running at their current pace a year from now, Weidmann said: "I would welcome that."

"But generally I don't speculate on the future decisions of the ECB's Governing Council," he added.

Weidmann's remarks in the interview were slightly different than in a preview published earlier, in which it was said Weidmann would welcome it if there were no ECB purchase sat all a year from now.

(Reporting by Francesco Canepa; Editing by Alison Williams)

Source: “Reuters”