Frankfurt (Germany), Nov 17 (EFE). - The president of the Bundesbank, Jens Weidmann, criticized today what he considers an excessive relaxation of the monetary policy of the European Central Bank (ECB) and considered that it should have established a "clear final date" for its debt purchase program.
The Governing Council of the ECB - of which Weidmann is a member - decided last 26 October will reduce next year to 30,000 million euros monthly - half of which currently - its monthly purchases of debt and extend them until September 2018, or "beyond, if necessary ".
During his speech at the European banking congress in Frankfurt, Weidmann considered that, due to low inflationary pressure, an accommodative monetary policy "It's still appropriate," but added that economic recovery "has progressed more than current inflation data suggests" and that prices will gradually increase toward The objective of the ECB.
Therefore, it considered that "relaxing something" the monetary policy next year and "establishing a clear final date" for the debt purchase program "would have been justified. "
" Setting a clear end date for purchases would have only meant stopping stepping on the accelerator but not putting the brakes on monetary policy, " He stressed.
At the same European banking conference, ECB President Mario Draghi had stressed before Weidmann the need to maintain the current ultra-expansive monetary policy. to support inflation growth towards the entity's target of 2% or slightly below that figure.