Euro Zone’s Upswing Will Continue Despite Brexit, Says ECB’s Weidmann

BERLIN – Bundesbank President Jens Weidmann stated that Britain’s exit from the European Union does not significantly alter the euro zone’s economic outlook, as expressed in a recent interview.

Weidmann noted that his assessment of the currency area’s economic prospects remains largely unchanged following the Brexit vote. He acknowledged that there might be a slight impact, but he believes the overall upward trend will persist. However, he cautioned that it’s premature to make reliable predictions regarding future price developments.

He reiterated his stance that the effectiveness of the current loose monetary policy is expected to diminish over time, increasing the associated risks and side effects.

Weidmann emphasized that considerable uncertainty remains, and further detailed economic indicators are necessary to better evaluate the Brexit implications.