Volker Wieland: "The ECB could raise interest rates already in 2018" ("Handelsblatt")

According to Volker Wieland, the Governing Council of the European Central Bank (ECB) should already have reduced its bond purchases and should take action quickly. "If the economic development continues booming, in my view an interest rate hike will be possible at the end of the year," he said in an interview with the German financial daily "Handelsblatt".

In Wieland's opinion, it's regrettable that practically all euro area member states have used the low interest rates for higher expenses instead of descreasing their debt burden. The ECB must align its monetary policy according to the needs of the euro area as a whole, not a single member state.

Regarding the parliamentary elections in Italy Wieland asked the ECB not to delay the monetary policy normalization due to a political crisis in Italy. Italy should not only implement reforms at the labor market, but also in the legal system.

Handeslblatt: "Volker Wieland: Die EZB könnte die Zinsen schon 2018 erhöhen"