News

Jens Weidmann has decided to step down after a decade as head of Germany’s central bank in a move that comes weeks after the country’s general election and shortly before a crucial decision on the future of eurozone monetary policy.

Since he joined the Bundesbank, Weidmann has been one of the most vocal critics of the ultra-loose monetary policy pursued by the European Central Bank, where he fought an often lonely battle against its bond-buying and negative interest rate policies.

Weidmann told Bundesbank employees that he had decided to step down at the end of the year, adding: “I have come to believe that more than 10 years is a good time to start a new chapter — for the Bundesbank, but also for me personally.”

The move, less than two years after Weidmann’s mandate was extended for another eight-year team, comes as three German political parties are locked in negotiations to form the country’s government.

Articles You May Like

Montana’s hot housing market heats up critical Senate race
Guam airport authority bringing $62M Baa2-rated deal
Op-ed: Here’s why a sale of Bausch + Lomb could lead to a windfall for Bausch Health investors
Muni YTD returns highest since October 2023
Point72’s Steve Cohen is stepping back from trading his own book