Volker Wieland questions the monetary policy stance of the ECB (Handelsblatt)

According to Prof. Volker Wieland, the European Central Bank (ECB) should start raising interest rates as soon as possible but only proceed in small steps. At a panel discussion of the German financial daily "Handelsblatt", Wieland discussed the current monetary policy with Allianz economist Katharina Utermöhl, chaired by "Handelsblatt" journalist Katrin Jones.

In Wieland's view, the ECB's monetary policy is too expansionary. In his opinion, the bond purchases are extremely harmful and the renewal of bond purchases in September 2019 was not adequate.

Regarding the debate on including climate measures into the ECB strategy, Wieland is rather cautious. "It would be mistaken to think that a central bank can make climate policy."

Handelsblatt: "Experten zweifeln am geldpolitischen Kurs der EZB"