Bundesbank President Jens Weidmann does not believe that the uncertainty generated by trade disputes has thus far had any lasting impact on the global economy. Speaking on the sidelines of the Annual Meetings of the International Monetary Fund in Bali, he said that the slight slowdown in growth, especially that observed in European countries, is probably due to the normalisation of expansion rather than a consequence of the trade conflict.

In its Annual Economic Report, the Bank for International Settlements calls for structural reforms, fiscal policy and macroprudential measures to play a greater role in ensuring sustainable growth. The report states that “monetary policy cannot be the engine of economic growth”.

Bundesbank President Jens Weidmann says that non-standard monetary policy measures can have a variety of effects on income and wealth distribution. “Much like conventional interest rate policy, the non-standard measures are more likely to have reduced income inequality,” he said in a speech in Hamburg.

Bundesbank President Jens Weidmann has spoken out in favour of making the rules on debt more binding. "It would be helpful for the rules of the Stability Pact to be simplified," he said in a speech delivered in Freiburg. Furthermore, Mr Weidmann added, a more rigorous interpretation of the rules could be achieved by giving responsibility for fiscal surveillance to an independent authority instead of the European Commission.