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ECB Weidmann said there is no need for additional stimulus

Monday, Dec 29 2014
ECB member and President of German Bundesbank Jens Weidman said in his interview for Frankfurter Allgemeine Sonntagszeitung that growth in Germany could be better than expected next year and the situation in Europe is not as bad as many people think. 
 
"As things are at the moment and if oil prices remain this low, inflation will be lower than expected, but growth will be better," Weidmann stated. "(With low oil prices) An economic stimulus program has been handed to us, why should we add to that with monetary policy?" said Weidmann, adding that pressure from financial markets should not determine the ECB's moves on buying up sovereign bond, Reuters reports.
 
Euro is being traded in a tighter range, with low liquidity ahead of New Year holiday. Later today, Greek Prime Minister Antonis Samaras will face a vote in parliament that will decide whether the country  will go to elections that could bring the leftwing Syriza party to power and derail an international bailout. However, pair is likely to find support around 1.2150 level and resistance above 1.22 handle.
More in this category: « Aussie slightly higher in a tighter range Monday's trading Greece ahead of snap elections »

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