Jens Weidmann: Probability of interest rates change, remains low

Jens Weidmann, president of Deutsche Bundesbank and a member of the European Central Bank, said in his statement earlier today, that raising interest rates in the eurozone remains unlikely, but also appeals to its positive attitudes, towards the region. Here is what Weidmann has said, which he held a few hours after it became clear that Germany was very close to forming a government:

- Price growth in the euro area is fully in line with the ECB plans, but investors should not lie that this will cause ECB members to rush. Better performance is needed than the ECB planned to take action earlier.

- Complete normalization of European monetary policy requires a lot of time and even see better economic results, the ECB will be very cautious with the changes.

Given the strong growth of the euro earlier today, Weidmann speech has been rather neutralizing. However, the positive sentiment around the united currency remains strong, and the opinion of the big Wall Street players is that EUR/USD will end the year at levels around 1.2500.

Source: Bloomberg Pro Terminal

Jr Trader Petar Milanov

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