Weidmann warns trade war likely to hurt US more than Germany
Bundesbank president says policy normalisation should continue
A trade war is likely to hurt the US economy more than Germany’s, said Bundesbank president Jens Weidmann in a speech today (May 16).
Speaking at a banking conference in Hamburg, Weidmann called for the preservation of the international trade system.
In his intervention, the president of the German central bank also stressed negative deposit rates in the eurozone were reducing banks’ profitability, which could become a financial stability risk. With this in mind, he called for the
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