Weidmann Sees No Need for More ECB Easing in Response to Brexit

Bundesbank President Jens Weidmann said there’s no need for the European Central Bank to ease monetary policy in response to Britain’s vote to leave the European Union, even as it will “slightly” curb economic growth in the euro area and Germany.

“Monetary policy is already very expansionary and it would be questionable whether an even more expansionary stance would have a stimulative effect,” Weidmann said in a speech in Munich on Friday. “An ever-more expansionary monetary policy can’t lift the economic burden of political uncertainty.”