German central bank chief to step down after 10 years at helm
- Update Time : Wednesday, October 20, 2021
- 109 Time View
German central bank president Jens Weidmann, a renowned fiscal hawk in Europe, will step down at the end of the year after a decade at the helm, the Frankfurt-based institution said Wednesday.
Weidmann, a European Central Bank member, who was appointed to head the Bundesbank in May 2011, told colleagues in a letter that “after 10 years it is time to begin a new chapter”.
His departure comes as the ECB faces difficult questions over how to tackle rising inflation and when to wind down its massive coronavirus pandemic-era stimulus programme.
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