ECB’s Weidmann: Central banks won’t stand in for politicians

ECB governing council member and German central bank head Jens Weidmann is out on the wires now, via Reuters, expressing his take on the bank’s monetary policy program.

Key Headlines:

Monetary policy is largely powerless in reviving growth

Mon pol mustn’t be overburdened

Central banks won’t stand in for politicians

Mon pol can’t address low potential

Weak economy based on structural issues

Elections will not drive monpol decisions

Higher growth is in the hands of politicians

Monetary policy is largely powerless in reviving growth