Economía 03-07-2017

ECB works to end ultra-expansive monetary policy

The European Central Bank is working to break away from its ultra-expansive monetary policy, Jens Weidmann, head of the German Bundesbank and a member of the ECB interest rate fixing body, said on Saturday.

Investors are wary of any indication that the ECB will curtail its stimulus program, which includes massive purchases of bonds and interest rates at record lows, after a suggestion in that direction by President Mario Draghi boosted the euro and bond yields this week.

"Hopefully it will come and we are working on it, we are also discussing it," Weidmann, long-time critic of the ECB's position, said at a conference at the German central bank.

The official added that the issue for monetary leaders was to decide when to show determination and to normalize the ECB's policy against pressures to keep facilities beyond what is necessary.